The Buzz is a regular summary of housing market news and data driving our decision-making at Bluebid.
Here's the Buzz for the week of February 1, 2024…
The limited supply of houses for sale - which keeps prices elevated - continues to weigh down the housing market, as CNBC writes mortgage applications fell 11% last week from the previous week.
Home prices are showing a moderate slowdown in price gains, however, as the latest S&P Case-Shiller national home price index data broke a streak of monthly gains that began in January 2023.
Moody's Analytics tells Newsweek to expect home prices to go sideways or down for 2-3 years as incomes and mortgage rates catch up and affordability is restored.
Fast Company shared an interactive housing market map which shows home price analysis for over 3,000 counties.
Inventory continues to pile up on Bluebid ahead of what looks to be a busy spring in the housing market. If you're thinking about selling, consider requesting a free market report via your homeowner dashboard.
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.