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 October 25, 2024…
New data shared by CNBC shows September existing home sales dropped to a seasonally adjusted, annualized rate of 3.85 million units. That's the slowest pace on record since October 2010.
Pending sales suggest strengthening demand, however, as Redfin calculated accepted offers for the four weeks through October 13 up 3.2% annually.
Recent commentary from Fannie Mae has home price growth decelerating in 2025 as affordability remains stretched.
Yahoo Finance observed single-family housing starts up 5.5% year-over-year in September.
HousingWire says weakening demand for distressed homes at present foreshadows continued weakness in the retail housing market into early 2025.
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.