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 July 26, 2024…
Fannie Mae expects home price growth to moderate as listings have begun to outpace sales.
CNBC observes inventory up 23.4% annually to 1.32 million units at the end of June. Inventory is still tight in the grand scheme of things at 4.1 months of supply, but the market is coming off record lows.
Inflation has cooled in recent months, yet the Fed's benchmark rate has remained elevated. Here are 3 mortgage moves to make before the July Fed meeting, according to CBS News.
Freddie Mac released its updated economic, housing, and mortgage outlook. The group notes a labor market showing signs of cooling, economic growth at its lowest levels since 2022, and home sales continuing to slow.
MarketWatch reports more borrowers fell behind on paying their mortgages in June, as delinquencies hit the highest level in 6 months. The top 5 states for 'serious' delinquency rates are Mississippi, Louisiana, Alabama, Arkansas, and Indiana.
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.