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.
Have a great week.