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 23, 2024…
Reuters reports US home sales decreased for the second consecutive month in April while inventory increased 9% to 1.21 million and median prices rose 5.7% annually.
According to Redfin, one-third of single family homes for sale are new construction. As a percentage of the market, this is double pre-pandemic levels.
Bankrate surveyed experts who predict any housing market correction will be modest at best, as low inventory keeps demand elevated and strict lending standards keep overzealous buyers in check.
For anyone considering selling in the near future, CNBC outlines the remodeling projects believed to net owners the biggest return on investment.
Buyers and sellers are getting creative, as U.S. News & World Report breaks down how seller-paid mortgage buy-downs help both parties close deals.
According to Yahoo Finance, the Department of Justice made its first comment on brokerage commissions since March at a status hearing this week. The DOJ is not currently supporting or opposing NAR's recent settlement agreement, but an attorney speaking for the DOJ said the group believes "offers of compensation should not be made anywhere, but certainly not on the MLS."
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.