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  • Writer's pictureChris Mackey

Bluebid Buzz: October 5

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 October 5, 2023…

  • While home prices have stubbornly risen in the face affordability hurdles and softening mortgage demand for some time, data shows buyers' negotiating power is finally improving.

  • Reuters reports mortgage rates rose to their highest levels since November 2000 last week.

  • Unsurprisingly, CNBC says the spike in rates coincided with mortgage demand falling to lows unseen since 1996.

  • Despite affordability challenges and softening mortgage demand, Markets Insider observed soaring home prices setting another record.

  • Zillow shares that the new listings drought has modestly improved, and negotiating power is (finally?) swinging toward buyers.

  • Redfin announced its decision to leave the National Association of Realtors this week. The company's CEO stopped short of a complete exodus, however, as approximately half of US cities require NAR membership in exchange for access to MLS listings.

  • Last week marked our platform's first birthday, and we celebrated by surpassing 1,700 homes. Thank you for your continued support!

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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