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  • Writer's pictureChris Mackey

BlueBid Buzz: March 14

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 March 14, 2024…

  • Redfin's latest housing market update shows mortgage rates down slightly, mortgage applications up 5% week-over-week, and new listings up 13% annually - the biggest increase observed since June 2021.

  • USA Today provides a nationwide breakdown of home prices, and California accounts for 4 of the 5 most expensive counties in America.

  • CNBC writes buyers need to earn 80% more than in 202 to afford a house in this market, and it's not just due to mortgage rates. Tight supply also contributes to upward pressure on prices.

  • Still, NBC News says buyers and sellers are starting to make peace with high rates rather than holding out for sweeter deals.

  • The White House unveiled its new housing affordability proposal aimed at unfreezing the housing market and incentivizing owners to sell their "starter homes" with a $10,000 tax credit.

  • We've spoken extensively about the unwillingness of American homeowners to give up their current low rate mortgages and the logjam it has created in the housing market. It's a big reason thousands of sellers are taking full advantage of the path forward created by BlueBid, where owners test the market and receive advice from top agents - without listing on the MLS and accumulating days on market.

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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