The applications for the purchase of newly constructed homes have decreased last month by about 18% from October levels, according to The Mortgage Bankers Association’s (MBA) latest builder survey.

The builder survey is conducted from mortgage subsidiaries of homebuyers across the U.S. After the data was concluded and assumptions about market coverage were made, sales of new homes were at a seasonally adjusted rate of 455,000 units in November. On an adjusted outlook, there were 32,000 sales.  In October, the MBA released information on an 11% decline in home purchase applications. New home sales were at an annual rate of 509,000 and about 40,000 units had sold during the month of October.

In November, 66.2% of new home purchase applications were for conventional loans and 19.9% were for FHA loans. VA loans totaled 12.9% of all applications and only 1.1% were RHS/USDA loans. The average loan size for new homes purchases increased from $294,480 in October to $295,523 in November.