National Bidding War Rate Hit a 10-Year Low in October
Nationally, just 10 percent of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in October
Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website Seattle Bubble, and produces the "Dispatches from the Multiverse" improvised comedy sci-fi podcast.
Email TimNationally, just 10 percent of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in October
Improving transit access to a neighborhood does not lead to a significant decrease in minority populations, even as incomes and rents rise faster than similar neighborhoods without convenient transit.
U.S. home-sale prices increased 4.6 percent year over year in September to a median of $308,800 across the 217 metros Redfin tracks.
Twenty-six percent of Redfin.com home searchers looked to move to another metro area in the third quarter of 2019, compared to 25 percent during the same period last year.
Fewer than one in 10 homes for sale last year were affordable to African American households in San Francisco, Los Angeles, Seattle, Denver and Boston. Less than 1 percent of homes for sale (just 241 out of over 54,000) in San Francisco in 2018 were affordable to African American families. The affordability crisis is the
Nationally, just 11 percent of Redfin offers faced a bidding war in September, down from 41 percent a year earlier, but up slightly from the eight-year low of 10 percent set in August.
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