10% of Redfin Offers Faced Bidding Wars in August, a New 8-Year Low
The bidding war rate is the lowest it’s been in at least eight years. But some markets, like San Francisco, are still fairly competitive.
As a data journalist at Redfin, Dana Anderson writes about the numbers behind real estate trends. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.
Email DanaThe bidding war rate is the lowest it’s been in at least eight years. But some markets, like San Francisco, are still fairly competitive.
Homebuyers are prioritizing affordability over walkability.
In San Francisco, a family needs to earn more than $265,000 to afford a median-priced home. See how other metros stack up.
The market for new homes is moderating, with prices slightly down as builders adjust inventory to meet demand for affordable homes.
Just 11.2% of Redfin offers faced bidding wars in July, the lowest rate since at least 2011.
High-end home prices rebounded slightly in the second quarter, but sales continued to drop and supply surged.
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