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  • Writer's pictureChris Mackey

Bluebid Buzz: August 10

The Bluebid Buzz is a regular summary of housing market news and data driving our decision-making at Bluebid Homes.


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 August 10, 2023…

  • More of the same this week in the housing market, as supply shortages persist and heightened mortgage rates fuel affordability challenges.

  • Yahoo Finance says active listings are still down 48% compared to pre-pandemic levels, and supply has only rebounded in 7 of the nation’s 200 largest markets.

  • Bankrate reports the current average interest rate for a 30-year fixed mortgage is up 6 basis points this week to 7.37%, while the Motley Fool hears some experts calling for a return to rates under 6% by the end of the year.

  • Redfin shares that the typical U.S. homebuyer’s monthly mortgage payment was $2,605 during the four weeks ending July 30, up 19% from a year earlier and down just $32 from early July’s all-time high.

  • A recent Zillow survey found homeowners who report rates below 5% are nearly twice as likely to not consider selling.

  • According to Realtor.com, homeowners seem resigned to waiting for market conditions to change. For many, starting the clock on published days on market is just too high of a hurdle to clear in the current environment. Fortunately for those homeowners (and buyers), Bluebid Homes allows anyone on the fence to privately explore selling on their own schedule.


Have a great week.



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