Bluebid Buzz: September 29
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 September 29, 2022…
The WSJ says the ‘golden handcuffs’ of mortgage rates contributing to depleted housing inventory, as many homeowners locked into low rates are unwilling to move due to rising rates.
Redfin reports sales of luxury homes fell 28.1% year-over-year during the three months ending August 31, the biggest decline since at least 2012. They’re also seeing fewer homeowners willing to sell in this market.
Per Banker & Tradesman, Freddie Mac’s weekly survey showed average rates for a 30-year fixed-rate mortgage increased for the fifth straight week to 6.29%.
Zillow reports August witnessed the smallest monthly inventory increase (by far) since February.
Emily Badger from Boston.com says Americans are suffering from a lack of starter home inventory.
Bloomberg reports 60% of the home price surge can be attributed to remote work.
Just a reminder that this past Tuesday was our official launch in Massachusetts! Please join us in spreading the word to homebuyers and homeowners alike. Our app is now available for download in the Apple’s App Store.
Have a great week.