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.