Bluebid Buzz: November 16
The Bluebid Buzz is a regular summary of housing market news and data driving our decision-making at Bluebid Homes.
Here's the Buzz for the week of November 16, 2023…
Mortgage applications were up approximately 3% last week as volume rose to its highest level in 5 weeks, according to Mortgage Bankers Association.
CNN reports inflation cooled to its lowest annual rate since March 2021 to end the month of October. The stock market rose on the news, as many interpret slowing inflation as a signal the Fed will cut rates sooner than expected.
Redfin says new listings are up 3% annually, the biggest increase in 2 years. The linked article also features a 'leading indicators' summary which provides a helpful snapshot of homebuying demand and activity.
Just prior to the aforementioned shots of optimism, CNBC writes homebuilder sentiment was at its lowest level in a year.
U.S. News & World Report broke down the recent ruling against the National Association of Realtors and what it could mean for buyers, sellers, and the future of fees in the traditional housing market.
Weekly listings on Bluebid Homes have nearly tripled of late, and we've observed more homeowners providing their price, buyer's agent commission, etc. The abundance of inventory allows us to do a better job of highlighting active sellers, and users will now notice an explicit 'Owner's Price Provided' filter on the platform.
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.