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
All-Cash Offers Triple Homebuyer Odds of Winning a Bidding War
Which strategies will increase your odds of winning a bidding war? We analyzed 9,000 offers written by Redfin agents and found the answer.
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
Bidding Wars Edge Up Slightly in September, Bucking the Typical Seasonal Trend
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.
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.
11% of Redfin Offers Faced Competition in July, the Lowest Rate Since at Least 2011
Just 11.2% of Redfin offers faced bidding wars in July, the lowest rate since at least 2011.
Just 1 in 8 Home-Purchase Offers Submitted by Redfin Agents in June Faced Competition, Down from 1 in 2 a Year Earlier
The housing market in San Francisco tapped the brakes in June as just 28 percent of offers written by Redfin agents on behalf of their home-buying customers faced a bidding war.
