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  • Writer's pictureChris Mackey

Bluebid Buzz: August 31

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 31, 2023…

  • Mortgage rates have dipped slightly from multi-decade highs, pending home sales rose modestly, stubbornly low inventory reflects affordability challenges, and buyers are seeing less competition from investors.

  • Mortgage News Daily says that in the space of just 2-3 short days, rates have moved from multi-decade highs to the lowest levels in 3 weeks.

  • Markets Insider observes buyers facing less competition from investors, as investor purchases have fallen 45% annually.

  • According to Redfin, pending home sales inched up in July - rising 0.7% from a month earlier to the highest level since the start of the year.

  • provides an uncomfortable look at the housing market's inventory crunch nationally, as the number of homes for sale sits 7.9% below levels seen a year ago.

  • Closer to home, NBC Boston writes that severely limited inventory means buying is out of reach for many Massachusetts residents.

  • Bankrate reports home values have held steady even as mortgage rates have soared past 7 percent, reaching their highest level in more than 20 years in August. The culprit is a lack of housing supply. Bidding wars have returned, and inventories remain frustratingly tight. At last count, there were 4,585 active single-family listings across the Commonwealth. Meanwhile, Bluebid Homes offers buyers an incremental 1,566 homes (as of 8/30) they won't find anywhere else - without the bidding wars and pressure of published days on market.

Have a great week.


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