Housing Market News
Bidding Wars
Homebuyer Competition Ticked Up in February, Hitting Record High
Bidding wars are intensifying at a slower pace than they were at the start of the pandemic. Nationwide, 68.6% of home offers written by Redfin
All-Cash Homebuyers Are Four Times More Likely to Win a Bidding War
Cash is king when competing for a home, but a buyer’s odds of winning a bidding war also increase significantly by waiving the financing contingency
January Was the Most Competitive Month on Record for Homebuyers
70% of home offers written by Redfin agents faced competition in January, up from roughly 60% a year earlier and the highest share in Redfin’s
3 in 5 Home Offers Faced Bidding Wars in December, Even Amid Holiday Slowdown
Many homebuyers are writing upwards of five offers before finding success as remote work, an ongoing housing shortage and low mortgage rates fuel bidding wars.
Homebuyer Competition Drops to Lowest Level in Nearly a Year in November
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%
Homebuyer Competition Levels Off in October, With 60% of Redfin Offers Facing Bidding Wars
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
Bidding-War Rate Drops to Lowest Level Since April 2020 As Mortgage Rates Surge
Just over 4 in 10 Redfin home offers faced competition in August, down significantly from a year earlier as 6% mortgage rates price buyers out
Homebuyer Competition Falls to Lowest Level Since Early Months of Pandemic
Higher mortgage rates and home prices are pushing some house hunters out of the market, leaving those who remain with more options and negotiating power.
Homebuyer Competition Drops to Lowest Level in Over Two Years
The bidding-war rate dipped below 50% for the first time since the start of the pandemic in June as rising mortgage rates and inflation took
Housing-Market Competition Dropped to a 15-Month Low in May
Surging mortgage rates and home prices are causing more buyers to back off. That means sellers are less likely to receive multiple offers—but they’ll also
Homebuyer Competition Falls for Second-Straight Month, Hitting Lowest Level in Over a Year
61% of home offers faced bidding wars in April—down from 63% a month earlier and 67% a year earlier—as surging mortgage rates prompted buyers to
Homebuyer Competition Drops for First Time in Six Months Amid Surge in Mortgage Rates, Home Prices
65% of home offers faced competition in March, down from 67% in February, as more buyers moved to the sidelines. Sixty-five percent of home offers
