Mortgage loan applications for new home purchases dropped 9 percent in April 2021, and it was the third straight month of reduced application volume.
Experts in the mortgage industry relate this to the low inventory of available homes, which has driven increased pricing. Here are articles that provide details on the current performance and predictions for the coming months:
Mortgage News Daily:
MBA Expects Another Drop in New Home Sales
National Association of Realtors:
April 2021 Existing-Home Sales Drop as Home Prices Rise and Inventory Shortage Continues
Realtor.com:
April 2021 Monthly Housing Market Trends Report: Homes Are Selling Lightning Fast Amid a Continuing Inventory Crunch
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