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  • Writer's pictureChris Mackey

Bluebid Buzz: December 28

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 28, 2023…

  • After a strong few months, Zillow writes new home sales slipped 12.2% from the previous month in November.

  • As shared by MSN, experts are split on whether a 'silver tsunami' of baby boomer downsizing will materialize in 2024.

  • We've talked a lot about the lock-in effect of mortgage rates limiting the number of homeowners willing to sell and give up their lower rates. Business Insider expects a boost to supply when mortgage rates approach the 5% range.

  • Fortune says it takes more than just a year for the market to really change, and we shouldn't expect meaningful difference in the housing market until 2025, according to Yahoo Finance.

  • Redfin's housing market update shows homebuying demand improving following weeks of declining rates and a double-digit increase in new listings.

  • The CEO of Re/Max joined CNBC and shared his opinion that the US is short 4.5 to 5 million homes. We agree there's a massive shortage on traditional listing services. We've always maintained poor marketplace design - and the headaches that come with published price history and days on market - play a big role in the housing shortage. Just last year, Forbes wrote that 16 million homes sit empty in the United States.

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.


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