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  • Writer's pictureChris Mackey

BlueBid Buzz: June 20

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 June 20, 2024…

  • CNBC observes mortgage demand flattening even as interest rates just hit the lowest level since March.

  • Mortgage News Daily says purchase volume is still more than 10% behind last year's pace, but MBA is forecasting a pickup in home sales for the remainder of the year as more inventory hits the market.

  • Redfin reports home prices are rising at the slowest pace in nearly 18 months, as a small uptick in new listings and elevated mortgage rates keep buyers at bay.

  • The Commerce Department reported that housing starts fell to the lowest levels since 2020 last month, according to The Street.

  • Newsweek writes 19.2% of sellers slashed their listing prices last month in an attempt to attract reluctant buyers.

  • Still, affordability challenges persist. Analysis from Zillow shows buyers making the median income need a $127,000 down payment to comfortably afford a typical US home.

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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