Bluebid Buzz: October 27
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 October 27, 2022…
The Hill reports New York, San Francisco, and Boston metro areas have been among those hit hardest by the housing shortage.
According to a recent report from the National Association of Realtors, sales of previously sold homes declined for the 8th consecutive month in September.
Axios Boston says homebuyers finally have some power to negotiate after two-plus years of housing hysteria. Even still, the inventory shortage (units down 12% year-over-year) simply won't go away.
While the starter home market has been hard on buyers in recent years, CNBC identifies 4 markets where the average American can still afford to buy one.
Realtor.com and WSJ highlight the markets they believe offer buyers on a budget attractive local economies and lifestyle features.
A persistent theme in our weekly updates has been continued inventory shortages despite perceived softness in the housing market, which is why the challenge we’re taking on at Bluebid is so important for the homebuying ecosystem. It has been 1 month since we announced our launch in Massachusetts, and we’re on track to finish the week with over 400 homes on the platform. As we continue to scale our offering, Bluebid will be a big part of the solution to the housing shortage. Users can now download our most recent iPhone app release (version 1.0.3) which includes estimates for iOS and various performance improvements. We have a lot more in store for both buyers and owners in the coming weeks, so please stay tuned!
Have a great week.