Bluebid Buzz: February 16
As a benefit to the homeowners and homebuyers using our platform, I share a regular summary of housing market news and data driving our decision-making here at Bluebid Homes. We call it the Bluebid Buzz.
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 February 16, 2023…
The theme for this week is continued signs of stabilization – and even some cause for optimism – in the housing market!
Homebuilder confidence rose for the second-straight month, according to Yahoo. While ongoing volatility is expected, the National Association of Home Builders says the building market should be able to achieve stability in the coming months.
Data from CNBC indicates none of the 15 cities where home prices are growing the fastest are in the northeast.
Similarly, U.S. News & World Report’s list of hottest housing markets points to buyers favoring space and amenities without the disadvantages of the largest cities.
The Wall Street Journal reports that like the pandemic-fueled housing boom, the boom in people becoming real estate agents is ending.
Forbes shares that the number of homes purchased by investors fell at a record pace last quarter, and that it could be great news for buyers that have been forced to the sidelines.
Tuesday’s report from the Bureau of Labor Statistics points to housing costs remaining the biggest contributor to the country’s battle to curb inflation, according to USA Today.
Inventory across the country remains depleted, as the most recent data from Realtor.com has weekly new listings down 10.5% year-over-year (and trending in the wrong direction). We founded Bluebid to balance supply and demand and build a healthier ecosystem for buyers and sellers. Our inventory growth has continuously outpaced traditional listing services since launch, and we’re hustling to ship more marketplace features for spring. We’ll share some exciting product announcements in the coming weeks, and we are encouraging homeowners to update their profiles, add photos, and set their pricing parameters in advance of what promises to be an active spring!
Have a great week.