The Buzz is a regular summary of housing market news and data driving our decision-making at BlueBid.
Here's the Buzz for the week of January 21, 2025:
Redfin shares that home prices are rising in every major metro for the first time since 2022.
While supply shortages have contributed to price growth, Newsweek points out 33.5% of active sellers have been forced to reduce pricing in an effort to attract reluctant buyers.
The average 30-year mortgage rate just jumped to 7.07% and sits at a 7-month high, according to Yahoo Finance.
Foreclosures in the United States fell 10% last year, a sign Homes.com says points to a stabilizing housing market.
Reuters observed single-family homebuilding increased to a 10-month high in December, indicating some improvement in housing activity to close the year.
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.