Bluebid Buzz: August 17
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 17, 2023…
Mortgage rates are now the highest they've been since 2001, inventory continues to reflect a brutal imbalance between supply and demand, industry execs are saying we're at rock bottom, and Wall Street is getting bullish on what the future holds.
Bankrate reports mortgage rates just hit a 22-year high. Yowzers.
According to Business Insider, Redfin's CEO says the housing market has hit rock bottom, as high rates and prices take their toll.
Still, the New York Times writes Wall Street is gung-ho on the housing market's outlook, as demand for new construction homes is strong and prices are rising.
Warren Buffet is often referred to as the greatest value investor ever - and he just made a big bet on the US housing market.
Realtor.com lists the 10 cities with the largest jump in listings and the 10 with the biggest drops.
We recently discovered a phenomenal source of on-demand local market snapshots, provided by Zillow.
While housing inventory in Greater Boston continues to reflect a dramatic imbalance between supply and demand, as tracked by the Federal Reserve Bank of St. Louis, our team announced 1,500 homes on platform this week and has only seen new listings accelerate.
Have a great week.