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 February 15, 2024…
U.S. News & World Report updated its list of hottest U.S. housing markets this week. The most popular state on the list? North Carolina.
Mortgage rates surged higher this week and caused mortgage applications to drop 12% annually and 3% compared to last week, according to CNBC.
Business Insider digs into what it calls a staggering jump in home prices that's a function of a severe lack of supply.
Redfin reports investors bought 26% of the most affordable homes in America during the fourth quarter. That's the highest share on record and equates to 18% of all homes sold in the quarter.
Newsweek says the rise in investor interest, particularly in affordable-housing sectors, points to a growing concern over the accessibility of homeownership for average Americans.
The National Association of Realtors writes that what buyers truly need is more inventory. On this point, we agree! That's why we're removing the friction (published price history, days accumulated on market, open houses, etc.) of a traditional listing experience at BlueBid. It's also why new listings on our platform are piling up.
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.