Bluebid Buzz: September 14
The Bluebid Buzz is a regular summary of housing market news and data driving our decision-making at Bluebid Homes.
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 September 14, 2023…
The key theme this week is - surprise, surprise - limited inventory. No matter where you turn, supply shortages are driving prices higher at a time when mortgage rates aren't doing buyers any favors.
CNBC reports mortgage demand has stalled at a level not seen since 1996.
With existing inventory barely budging from all-time lows, researchers from Harvard University observe more buyers turning to the new construction market.
According to Markets Insider, home affordability gets worse for millennials and Gen Z, as student loan payments are set to resume in October.
Benzinga writes that demand for vacation homes sits near a 7-year low due to high housing costs and return-to-office mandates.
No matter the macroeconomic landscape, millions of Americans need to sell each year - and Redfin outlines the most common reasons for doing so in the current market.
Yahoo Finance writes about a new company that says it can wind back the clock on rates, offering access to mortgages as low as 2%.
A recent survey from the National Association of Realtors finds that limited inventory is one of the largest current barriers to purchasing a home. This is why we built our platform. Off-market listings from Bluebid Homes offer frustrated buyers incremental new inventory, and the company just surpassed 1,600 houses.
Have a great week.