New-home applications fall as summer season slips away

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

As mortgage applications for existing homes are flattening out, applications for newly built homes are decreasing, the Mortgage Bankers Association (MBA) reported this week. New-home applications fell by 4 percent from June to July and are in line with the overall slowdown we’re seeing in the purchase mortgage market, the association said as it released its monthly Builder Application Survey.