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  • Writer's pictureChris Mackey

Bluebid Buzz: November 24

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 November 24, 2022…

  • Fueled by hope the Federal Reserve will soon begin slowing the pace of its interest-rate increases, WSJ observes investors have been scooping up beaten-down housing stocks.

  • Redfin reports October saw a record 32.1% drop in pending home sales – the company began tracking in 2013 – yet the inefficiency of the housing market keeps prices elevated at +4.9% year-over-year.

  • Mortgage applications rose 2.2% last week compared to the previous week as interest rates declined slightly, says CNBC.

  • The Atlantic published a thoughtful piece on the state of the US housing market. The article breaks down “supply skepticism” and attempts to quantify the housing shortage. Estimates range from 3.8 million to 7 million units.

  • iOS users can download our newest app version 1.0.4 in the App Store. The new features we rolled out on the web last week have been included in this release.

  • Today, we hit pause on our mission to give thanks. Tomorrow, we get back to work. Happy Thanksgiving and thank you so much for being a part of this important journey!

Have a great week.


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