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  • Writer's pictureChris Mackey

Bluebid Buzz: March 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 March 16, 2023…

  • This week saw bank turmoil, falling mortgage rates, improving builder sentiment, and tremendous uncertainty in the market – yet the housing supply shortage continues to claim the spotlight across many of the publications we track.

  • Bankrate reports on mortgage rates tumbling in the wake of Silicon Valley Bank’s collapse. The company says it’s possible that renewed financial uncertainty will be favorable for borrowers.

  • CNBC says builders continue to report strong pent-up demand, and a monthly gauge of builder confidence in the market for newly built single-family homes rose in March - the third straight monthly increase in builder sentiment.

  • Inflation dropped to 6% this week, but housing costs remain elevated. According to the Bureau of Labor Statistics, the index for shelter accounts for more than 70% of the annual increase.

  • The St. Louis Fed tracks housing inventory and counts fewer than 578,000 active listings in the United States as of March 2. This equates to approximately 0.4% of homes!

  • also observes that inventory remains low. The supply imbalance is impacting residential real estate across the country, and inventory is down 30% from levels seen five years ago.

  • Time writes that in many U.S. markets, would-be buyers are facing a big problem: there’s just nothing to buy. Given the uncertainty of the times, it makes sense to see owners balking at publicly listing their homes for sale. Bluebid offers homeowners a new path, and we expect our platform will unlock supply in a big way this spring and summer. Stay tuned for exciting product news in the weeks ahead.

Have a great week.


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