In January 2025, mortgage applications for newly built homes saw a year-over-year decline of 6%, while exhibiting a notable 19% increase from December 2024, indicating fluctuating market conditions. The average loan size also increased to $403,416. The Mortgage Bankers Association (MBA) reported that new home sales were up 21.7% monthly, with single-family sales reaching a seasonally adjusted annual rate of 616,000. Notably, the increased share of FHA loan applications, now over 30%, marks a trend towards first-time homebuyers entering the market.
January's mortgage applications for newly built homes fell 6% year over year, though there was a 19% increase from December 2024, suggesting mixed market signals.
The MBA reported that the average loan size for new-home mortgages rose from $400,930 in December to $403,416 in January, reflecting rising costs.
MBA vice president Joel Kan highlighted that FHA loans now represent over 30% of new-home applications, the highest share historically, indicating growing activity among first-time homebuyers.
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