Bluebid Buzz: April 13
As a benefit to the homeowners and homebuyers using our platform, I share a regular summary of housing market news and data driving our decision-making here at Bluebid Homes. We call it the Bluebid Buzz.
Disclaimer: Views expressed here are my own and not the views of my coworkers or anyone else. I am not a financial advisor, investment advisor, or housing expert. I’m just a guy who cares deeply about saving the American Dream of homeownership.
Here's the buzz for the week of April 13, 2023…
Numerous publications and data sources tracked by our team show homebuying demand materializing. Inventory remains limited, however, which means elevated prices persist and many buyers are forced to travel further to find the right deal.
Business Insider digs into a housing market that's sending mixed signals and leaving real estate forecasters torn on what comes next for home prices.
Yahoo Finance - with supporting data from CoreLogic - says pent-up demand is pulling buyers back into the market.
Realtor.com published a list of its 20 hottest housing markets, and it shows buyers flocking to relatively affordable cities and towns.
Entrepreneur shares that independent mortgage banks and mortgage subsidiaries lost an average of $301 for every mortgage financed in 2022, as a rapid rise in rates combined with low inventory and high prices led to plummeting purchase and refinance volume.
The Real Deal reports on an uptick in foreclosures in the multifamily market, and the publication observes high interest rates, regional banking turmoil, and slowing rent growth continuing to negatively impact multifamily operators - many of which provide low-income and affordable housing.
Zillow notes a substantial step down in monthly shelter inflation, as annualized growth of owner's equivalent rent recently dropped from 8.3% to 5.3% after 10 straight months above 7%.
Inflation is cooling. Still, CNN says shelter costs remain the largest contributor to monthly inflation gains, offsetting sharp declines across energy categories.
As of this week, we have more than 1,000 homes on Bluebid Homes. The owners of these properties aren't necessarily sellers today, but they could be if the Bluebid is right. What's a Bluebid, you ask? It's a friendly, private indication of interest expressed as the dollar amount a buyer may pay for an off-market home that meets their requirements - and we believe it's the next big thing in housing.
Have a great week.