59.5% of Redfin home offers faced bidding wars in November, the first time the competition rate was below 60% since December 2020. In November, 59.5% of home offers written by Redfin agents faced competition, the lowest level in 11 months. That’s down from a revised rate of 61.8% in October and a pandemic peak of
Interest in second homes remains strong as buyers race to lock in low mortgage rates and employers introduce permanent rules for remote work. In November, demand for second homes was up 83% from pre-pandemic levels, an uptick from October’s 72% increase but still slightly below January’s record 91% gain. That’s according to a Redfin analysis
Housing-market competition is no longer slowing as homebuyer demand shows signs of heating back up. In October, 60.3% of home offers written by Redfin agents faced competition, little changed from a revised rate of 60.4% in September but down from a pandemic peak of 74.5% in April. . An offer is considered part of a
Demand for second homes was up 60% from pre-pandemic levels in September, an uptick from July’s 40% increase but still below March’s record growth. In September, demand for second homes was 60% higher than it was before the coronavirus pandemic hit. While that’s a slowdown from the record 112% surge we saw in March, it’s
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