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 April 12, 2024…
CNN details how the March inflation report led to slightly higher mortgage rates. Any further nudge higher would bring us dangerously close to the wildly uncomfortable 7% threshold.
The economists at Redfin provided their own outlook for mortgage rates and the expected impact on the housing market.
According to MarketWatch, the CEO of Rocket Mortgage doesn't doubt the "resilience and determination of the industry to bounce back."
A recent survey from Fannie Mae shows greater consumer optimism toward homebuying and selling conditions. It's hard to know who to believe, as Redfin observes droves of renters giving up hope for homeownership altogether.
While it can be difficult to resist in an environment like this one, we're not in the business of telling our users which conflicting third party data point they should believe. Observations from our own platform are a different story. Sellers on BlueBid are piling up, and we're witnessing an insatiable appetite for services at the early stages of selling: requests for market reports and CMAs via partner agents, selling consultations, etc.
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.