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  • Writer's pictureChris Mackey

BlueBid Buzz: May 30

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 30, 2024…

  • According to Bloomberg, receding prospects for the Federal Reserve to lower interest rates in the next few months are keeping US mortgage rates in the 7% range - more than double what they were three years ago.

  • CNN reports home prices hit another record high in March, and it's the sixth broken record in the past year.

  • CoreLogic finds that markets in proximity to major employment centers and those that may have lagged in price strength during the pandemic are now driving most of the increase in home prices.

  • Perhaps unsurprisingly, CNBC shares news that weekly mortgage demand just dropped to a 3-month low.

  • As elevated prices and high borrowing costs suppress home demand, Newsweek says many real estate agents are leaving the industry.

  • Inventory at BlueBid - where sellers test the market without accumulating days on market - has now surpassed 7,500 homes and shows no signs of slowing.

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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