The ever increasing number of applications is due to the following factors, IMO:
- Ease of application (Common App)
- Desire to get into one of the top ranked colleges (college rankings such as USNWR) even if you don’t think you are qualified but why not try it
- Marketing and solicitation from colleges that don’t have any intention to accept you but still want you to apply, which will make them appear more selective
- With the acceptance rates plummeting due to ever increasing number of applications, you have to apply to more colleges to increase your odds of getting in