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  • Writer's pictureChris Mackey

Bluebid Buzz: September 7

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 7, 2023…

  • Home prices continue to rise, demand is depressed, mortgage rates have resumed their upward climb, and the current environment shows strength at the bottom and softness at the top.

  • Redfin says prices are up and demand is down.

  • Zillow reports mortgage rates resumed their climb this week on a stronger than expected uptick in service sector activity.

  • Mortgage application activity sits at a 28-year low, according to Mortgage News Daily.

  • StreetInsider digs into Fannie Mae's Home Purchase Sentiment Index and finds unusual housing market activity contributing to a nationwide stall in consumer sentiment.

  • Yahoo Finance explains the current environment is actually a tale of two housing markets - where higher-end homes are seeing price declines and prices for lower-end homes are holding firm.

  • Forbes breaks down the most overprice housing markets in America for 2023.

  • While the Massachusetts Association of Realtors writes single-family sales were down 6.4% annually in August, we're seeing an uptick in buyer activity so far in September at Bluebid Homes.

Have a great week.


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