Bluebid Buzz: March 23
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 23, 2023…
The housing market is showing serious signs of life this week, with reports of mortgage demand and home sales climbing, affordability improving, and active listings on the rise.
Mortgage Bankers Association says mortgage applications increased for the third consecutive week, a sign of strengthening demand.
CNBC shares that home sales spiked 14.5% month-over-month in February. It's the first monthly gain in 12 months (and largest increase since July 2020).
The Wall Street Journal observed buyers benefiting from a slight improvement in affordability as home prices ticked lower and mortgage rates eased in February.
Boston.com recognizes that more listings means more opportunities for those buyers braving the hunt, and the number of active listings for condos and single-family homes is up year-over-year in Greater Boston.
In a piece that’s helpful for anyone attempting to grasp key drivers of the housing market, USA Today explores the close relationship between housing and the actions of the Federal Reserve.
It appears the next generation of buyers shares our passion for the American Dream of homeownership. Business Insider finds that Gen Z – buoyed by impactful technology and know-how – shows strikingly more interest in homeownership than Millennial counterparts.
While active listings are up in many markets, Zillow’s most recent housing market report shows new listings still trending in the wrong direction nationally. This is something to keep an eye on – and an area where Bluebid Homes can help. New listings were down 22.2% year-over-year across the country in February.
Have a great week.