Bluebid Buzz: May 18
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 18, 2023…
This week saw new listings trending at all-time lows with mortgage applications dropping due to higher rates and severe supply shortages.
Redfin writes that fewer homes are selling this spring–but the ones that are changing hands are going fast, with a small pool of buyers circling an even smaller pool of listings.
Not a single region saw an increase in new listings in April, according to Realtor.com. New listings were down 13.8% annually for the month.
HousingWire observes new listings trending at all-time lows and compares the rise of active listings in this spring housing market to a zombie slowly rising from its grave. Yikes.
CNBC says higher mortgage rates and a severe shortage of homes are taking their toll on mortgage demand, as applications dropped 4.8% on a weekly basis.
Boston.com reports Massachusetts just saw its first drop in the median purchase price for a single-family home since 2018.
Business Insider shares how regular homebuyers can take advantage of pre-underwriting to compete with all-cash buyers.
While the traditional market has been starved of new listings, Bluebid Homes continues to add new inventory daily. We recently announced invite tracking for agents in our referral network, as our community represents a new path forward for their buyers.
Have a great week.