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  • Writer's pictureChris Mackey

BlueBid Buzz: March 7

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 7, 2024…

  • That's more like it! There's a lot to be excited about this week in the housing market, as early reads on both supply and demand show strength.

  • Redfin says new listings for the 4 weeks ending March 3 rose 13% annually, the biggest increase in nearly 3 years.

  • Weekly mortgage demand surged 11% compared with the previous week as more homes hit the spring market, according to CNBC.

  • Still, Yahoo Finance shares top economists are predicting it will take years to completely unfreeze a housing market working its way through a rate-induced lock-in.

  • While Fitch Ratings recognizes signs of gradual thawing in the US housing market, the company claims homes in 91% of US metro areas are still overvalued by an average of 11.1%.

  • Fortune breaks down the scenarios it believes would result in a wave of existing homes hitting the market this spring.

  • A full return to normalcy is going to take more inventory than can currently be found on the MLS, and our team is proud of the sustainable pipeline of supply we've built. Based on all of the metrics that matter, word is spreading.

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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