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 October 17, 2024…
The Fannie May Home Price Index shows single-family home price growth of 5.9% in Q3. While growth is slowing, prices remain robust.
CNBC observed mortgage demand down 17% last week, as mortgage rates rose for the 3rd consecutive week.
A recent survey from Redfin finds 23% of prospective first-time buyers waiting until after the presidential election to transact.
The most recent U.S. Home Sales Report from ATTOM shows sellers of single-family homes and condos boasted blended profit margins of 55.6% in Q3.
Zillow reports nearly 1 million single-family homes were built in 2023. While construction is slowing, the industry continues to outpace pre-pandemic norms.
We've shared lots of news on the 'stuck' housing market of 2024, but pre-market activity on BlueBid is booming following a quiet September. Last week's new listings on platform spiked 192.5% compared to September lows, and many of those sellers will transact in the coming months.
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.