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 June 20, 2024…
CNBC observes mortgage demand flattening even as interest rates just hit the lowest level since March.
Mortgage News Daily says purchase volume is still more than 10% behind last year's pace, but MBA is forecasting a pickup in home sales for the remainder of the year as more inventory hits the market.
Redfin reports home prices are rising at the slowest pace in nearly 18 months, as a small uptick in new listings and elevated mortgage rates keep buyers at bay.
The Commerce Department reported that housing starts fell to the lowest levels since 2020 last month, according to The Street.
Newsweek writes 19.2% of sellers slashed their listing prices last month in an attempt to attract reluctant buyers.
Still, affordability challenges persist. Analysis from Zillow shows buyers making the median income need a $127,000 down payment to comfortably afford a typical US home.
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.