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  • Writer's pictureChris Mackey

Bluebid Buzz: May 11

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 May 11, 2023…

  • The market remained in a state of flux this week, as inventory remains limited, a potential pause in rate hikes led to a brief surge in mortgage demand, approximately 30% of markets have seen price declines, and homebuyers are facing a quandary: nobody's selling.

  • writes that location matters now more than ever. Some markets have slowed, while others continue to speed up. Simply put, there is no 'national' housing market at the moment.

  • 31% of US markets saw home price declines and 69% saw increases in the first quarter, according to Markets Insider.

  • A thought provoking piece from Mansion Global unpacks the current state of the housing market and the home buyer's quandary: nobody's selling.

  • Yahoo Finance says the median list price for US homes in March was $374k, while the median sales price was $326k. There's a clear disparity between the expectations of buyers and sellers.

  • CNBC observes applications to refinance home loans increased 10% last week, and new mortgage applications rose 5% after the Fed signaled a potential pause in rate hikes.

  • Business Insider believes would-be homebuyers looking to upgrade their homes have been sidelined, as more and more owners are choosing to stay put with low mortgage rates locked in. Absent a viable off-market path, each owner that chooses to stay versus sell negatively impacts buyers. Bluebid Homes provides an opportunity to break this vicious cycle, as the platform's incremental inventory creates a legitimate arbitrage opportunity for those willing to engage.

Have a great week.


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