The Bluebid Buzz is a regular summary of housing market news and data driving our decision-making at Bluebid Homes.
Here's the Buzz for the week of December 21, 2023…
Bloomberg digs into the state of the US housing market, and there's plenty of cause for optimism. The publisher noted a series of reports which show the market coming back to life: Housing starts hit a 6-month high, existing home sales picked up from a 13-year low, and Americans' home-buying plans rose this month by the most in a year.
The National Association of Realtors notes home sales have begun to rise, and a recent surge of construction should mean more inventory for buyers in the new year.
Zillow believes many homeowners and would-be sellers are growing tired of waiting for low interest rates to return. The company expects more of them to list their homes for sale in 2024, according to Yahoo Finance.
Business Insider points to sinking mortgage rates as the leading contributor to improved inventory and sales, as November listings and pending home sales reached their highest levels in a year.
Have a great week.
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.