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  • Writer's pictureChris Mackey

BlueBid Buzz: May 16

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 May 16, 2024…

  • Mortgage News Daily writes that persistently high rates have quashed builder confidence, as sentiment retreated for the first time since last November.

  • CNBC observes mortgage demand from homebuyers falling even as interest rates pull back to April lows. 

  • This comes as mortgage rates dip below 7% for the first time in 5 weeks, per Redfin

  • An interactive map from Newsweek shows states with the fastest growing demand.

  • The CEO of Redfin says the housing market has hit rock bottom, according to Yahoo Finance.

  • MarketWatch ranks the 5 states where it says homes are overvalued.

  • There's no relief in sight for high borrowing costs as the Fed continues to punt on rate cuts. Still, a surge in housing inventory could give buyers more options, writes Fannie Mae.

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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