The Bluebid Buzz is a regular summary of housing market news and data driving our decision-making at Bluebid Homes.
Here's the Buzz for the week of November 30, 2023…
A new report from Realtor.com shows listing activity improving and homes spending fewer days on the market.
Moody's believes rising rental inventory will bring down rental costs, and ultimately home prices, according to Business Insider.
The S&P CoreLogic Case-Shiller Index, which bills itself as the leading measure of US home prices, shows that 15 of 20 major metro markets saw continued home price increases through September. The 20-city composite saw prices up 3.9% year-over-year despite surging mortgage rates.
There's a massive disconnect between new construction home prices and existing homes, according to Bloomberg. The latest data shows median new construction prices down 18% annually, while existing home prices (these are the ones that get the headlines) just rose for the eighth consecutive month.
Newsweek expects home prices to fall in these 20 US cities next year.
As we've shared previously, a vast majority of surveyed Bluebid users expect to work with an agent or are open to doing so for their next transaction. We are currently partnering with one (1) preferred agent per zip code, and spots are filling up fast. If you're a top agent in your market, we'd love for you to request a demo to explore partnering with Bluebid.
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.