Bluebid Buzz: June 29
The Bluebid Buzz is a regular summary of housing market news and data driving our decision-making at Bluebid Homes.
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 June 29, 2023…
Home prices have risen for three consecutive months, new listings have fallen off a cliff, and both new construction and sales of new homes are surging.
This week's release from the S&P CoreLogic Case-Shiller Indices shows the US housing market continues to strengthen, as home prices increased for the third consecutive month in April.
CNN points to low inventory keeping prices elevated, as limited supply creates intense competition.
Realtor.com's monthly housing report for June shows new listings down a whopping 25.7% annually.
The New York Times notes home construction surged in May and prices have ticked up, even with interest rates at a 15-year high. The resilience has surprised some economists.
A recent report from Redfin shows a record 25.4% of house hunters are looking to relocate to a different part of the country as high mortgage rates make affordable areas more attractive.
Business Insider says new home sales surprisingly surged 20% in May, and the surge may have been fueled by a drop in prices for new-build properties.
Closer to home, agents in the South End of Boston have been abuzz over a record-setting sale in Union Park. As reported by Boston.com, the single family home sold for $12.1 million in a private, off-market transaction. Top agents closing high-end deals disproportionally off-market is nothing new, and Bluebid Homes offers the experience to a new generation of buyers and sellers.
Have a great week.