Bluebid Buzz: April 6
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 6, 2023…
Inventory shortages continue to dominate headlines at a time when cooling inflation and relatively strong homebuying demand might otherwise point to a robust housing market.
CNBC says a lack of housing supply currently outweighs the benefits of falling mortgage rates.
Realtor.com offers tips for first time sellers this spring, and the company says there’s still more demand than properties for sale.
Redfin writes that its Homebuyer Demand Index – a seasonally adjusted measure of requests to tour home, make an offer, and/or start a home search with a Redfin agent – jumped to its highest level since May 2022 during the week ending March 26.
Zillow believes that while improving inflation data should ultimately push mortgage rates lower, more restrictive lending due to recent banking turmoil could keep rates elevated in the near term – and put a damper on seasonal upticks in the housing market.
The U.S. Census Bureau recently released a report showing patterns of population growth and decline are moving towards pre-pandemic rates for the nation’s 3,144 counties. Texas boasts 5 of the 10 fastest-growing counties in America, according to the report.
Yahoo Finance shares that sales of apartment buildings last quarter posted their largest drop since 2009, a sign that a corner of the commercial real estate market is feeling the strain of tighter lending standards by banks and interest rates rising from historic lows. While we don’t often talk about commercial real estate at Bluebid Homes, it’s worth noting that weakness across existing apartment building values means many previously planned construction projects are no longer financially feasible – all of which ultimately contributes to America’s housing supply shortage.
Have a great week.