As a benefit to the homeowners and homebuyers using our platform, I share a regular summary of housing market news and data driving our decision-making here at Bluebid Homes. We call it the Bluebid Buzz.
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 December 8, 2022…
CBS News shares predictions for the 10 hottest housing markets nationally in 2023.
Axios observes buyers in Greater Boston are finally seeing prices come down in most areas (towns such as Needham, Dover, and Wellesley do continue to see price gains). New Hampshire, meanwhile, has been on fire with prices increasing across the state.
Even as buyers welcome signs of a softening housing market, there’s reason to believe supply constraints will persist relative to demand. The Hill reports 2022 will mark the first annual decrease in single-family home starts in 11 years.
The WSJ shares our frustrations with a housing market it calls full of contradictions: softening demand paired with continued supply constraints, prices sliding when they should be plummeting, etc. We attribute all of this to today’s outdated listing service – it’s choking supply. As modern platforms have proven in other industries, the key to unearthing inventory is removing the friction and gatekeepers separating supply (owners) and demand (buyers) while introducing elegant software designed to drive direct interactions. That’s exactly what we’re doing for the early stages of price discovery and negotiation with Bluebid Homes.
A survey reported on by Boston.com says about one in four millennials is living with a parent – equivalent to 18 million people between the ages of 26 and 41 – with more than half reporting they moved back in with family in the past year as shelter costs in the US skyrocketed.
I had a great time joining the 411k podcast to talk about what we’re building at Bluebid Homes and how we see the platform helping owners and buyers in the coming years.
Have a great week.