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 August 16, 2024…
CNN discusses the potential impact of the NAR settlement and offers predictions for agent commissions, as changes go into effect tomorrow (8/17).
The National Association of Realtors provides a long list of FAQs (119 of them!) with regard to the settlement and rule changes. It's a helpful read for buyers, sellers, and agents alike.
According to Zillow, more multifamily homes were built in June than in any month in nearly 50 years. The number of empty rental units is growing, and may landlords are making concessions to attract tenants.
The National Association of Home Builders writes builder confidence has continued to deteriorate and stands at its lowest level since December 2023.
Realtor.com checks in with a panel of experts on mortgage rates and their current impact on the housing market. The company's Chief Economist points out that 86% of outstanding mortgages have a rate of 6% or less, whereas current 30-year rates sit in the neighborhood of 6.5%.
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.