The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for June 2025 shows mortgage applications for new home purchases increased 8.5 percent compared from a year ago. Compared to May 2025, applications decreased by 4 percent. This change does not include any adjustment for typical seasonal patterns.

“Applications to purchase new homes fell in June, consistent with typical seasonal patterns, but remained ahead of last year’s pace,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “A cloudier economic outlook and elevated mortgage rates continues to weigh on potential buyers, while growing inventory, builder incentives, and lower prices have brought some buyers back to the market. As a result, we continue to see home sales ebb and flow. MBA’s estimate of new home sales increased to a sales pace of 667,000 units, up on a monthly and annual basis.”

MBA estimates new single-family home sales, which has consistently been a leading indicator of the U.S. Census Bureau’s New Residential Sales report, is that new single-family home sales were running at a seasonally adjusted annual rate of 667,000 units in June 2025. The new home sales estimate is derived using mortgage application information from the BAS, as well as assumptions regarding market coverage and other factors.

The seasonally adjusted estimate for June is an increase of 5.7 percent from the May pace of 631,000 units. On an unadjusted basis, MBA estimates that there were 55,000 new home sales in June 2025, a decrease of 5.2 percent from 58,000 new home sales in May.

By product type, conventional loans composed 50.0 percent of loan applications, FHA loans composed 35.1 percent, RHS/USDA loans composed 1.2 percent and VA loans composed 13.8 percent. The average loan size for new homes decreased from $379,209 in May to $376,077 in June.

For additional information on MBA’s Builder Application Survey, please click here.