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  • Writer's pictureChris Mackey

Bluebid Buzz: December 7

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 7, 2023…

  • In a summary of new housing market predictions from Zillow and Redfin, says some semblance of a buyer's market in real estate could finally be on the way in 2024. This week's news cycle offers plenty of reasons to believe with mortgage rates declining, new listings and mortgage applications on the rise, and many calling for renewed energy in the housing market in 2024.

  • Mortgage rates are falling at the fastest pace since 2008, according to Business Insider. The 30-year fixed mortgage rate fell from 7.37% to 7.17% last week, and the key borrowing rate is down 69 basis points since late October.

  • Redfin writes new listings are up 7% annually. The biggest uptick since August 2021 is great news for buyers.

  • Mortgage Bankers Association says mortgage applications increased 2.8% last week, which means applications are up 15% from the 28-year low observed in early November.

  • The Mortgage Reports shares its predictions for the hottest housing markets in 2024, and the top 3 spots are located in Ohio, California, and New York.

  • Many thanks to all of the real estate agents who have contacted us in the last week. Knowing we have the right partnerships in place to provider buyers and sellers with guidance the moment they're ready gives our team confidence to be bold on the product front. We are partnering with one (1) preferred agent per zip code, and much of Massachusetts - our launch state - is already spoken for. If you're a top agent in your market, we'd love for you to request a demo and explore partnering with Bluebid.

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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