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  • Writer's pictureChris Mackey

Bluebid Buzz: February 9

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 9, 2023…

  • The Wall Street Journal reports the housing market is showing signs of thawing, as a decline in mortgage rates has more people interested in buying homes.

  • CNBC says mortgage refinance demand surged 18% last week as interest rates continued to drop.

  • U.S. News & World Report offers its take on the most undervalued housing markets in the United States.

  • According to Redfin, homebuyers on a $2,500 monthly budget can afford a $400,000 home for the first time in four months as mortgage rates dip below 6%.

  • The WSJ penned a story on businesses known as power buyers – which helped buyers gain an edge via cash offers and other means during the pandemic-fueled housing boom – now finding themselves stuck with hundreds of homes as customers back out of deals.

  • Goldman Sachs expects U.S. home prices to bottom this summer, according to a report from Yahoo Finance.

  • Since we launched Bluebid Homes, many owners have requested more control over offer ranges. Owners can now set a minimum offer amount in the ‘Edit Facts’ section of their home’s profile. This new feature and more are available via the web and our most recent App Store update. We surpassed 1,000 users on the platform this past week, and new users are joining daily. It's going to be a busy spring!

Have a great week.


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