New-home sales slow in December, hold year-over-year gains

New-home sales dropped in December compared with previous months, but remained above 2024 levels, according to new industry data.

Processing Content

Mortgage applications for new-home purchases decreased 15.2% on a seasonally-adjusted basis and 3% unadjusted from November to December, the Mortgage Bankers Association Builder Application Survey found. Compared with last December, applications increased 2.5%.

“December purchase activity for newly built homes continued to run stronger than last year, despite cooling slightly from the prior month,” said Joel Kan, the MBA’s vice president and deputy chief economist, in a press release Thursday. “New homes remain a viable option for many homebuyers given that there is a relatively large number of new homes available for sale, which has prompted…