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 May 16, 2024…
Mortgage News Daily writes that persistently high rates have quashed builder confidence, as sentiment retreated for the first time since last November.
CNBC observes mortgage demand from homebuyers falling even as interest rates pull back to April lows.
This comes as mortgage rates dip below 7% for the first time in 5 weeks, per Redfin.
An interactive map from Newsweek shows states with the fastest growing demand.
The CEO of Redfin says the housing market has hit rock bottom, according to Yahoo Finance.
MarketWatch ranks the 5 states where it says homes are overvalued.
There's no relief in sight for high borrowing costs as the Fed continues to punt on rate cuts. Still, a surge in housing inventory could give buyers more options, writes Fannie Mae.
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.