Housing Market News
Bidding Wars
Homebuyer Bidding War Rate Drops to 2021 Low in September
59% of home offers faced competition in September, the lowest level in nine months, amid a seasonal housing-market slowdown and an uptick in mortgage rates.
59% of Home Offers Written by Redfin Agents Faced Bidding Wars in August—the Lowest Level Since 2020
Competition is easing as homebuyers grow tired of sky-high asking prices and the housing market enters its typical seasonal slowdown. In August, 58.8% of home
Homebuyer Bidding-War Rate Drops to Lowest Level Since January
60% of offers written by Redfin agents faced competition in July, down from 67% in June. Competition is still more intense than it was a
Homebuyer Competition Eases in June as More Homes Hit the Market
The bidding-war rate remains higher than it was a year ago, but has dropped to 65% from its peak earlier this year. That’s partly because
Housing-Market Competition Has Eased Slightly, But 7 in 10 Buyers Still Face Bidding Wars
70% of home offers faced bidding wars in May, down from 74% in April. Still, competition remains far more intense than it was a year
Almost Three-Quarters of Home Offers Written By Redfin Agents Faced Bidding Wars In April
That’s up from 45% a year earlier and marks the 12th-straight month in which more than half of home offers encountered competition. Nearly three-quarters (72%)
More Than Half of Redfin Offers Faced Bidding Wars for Second Consecutive Month in June
54% of Redfin offers faced competition as the supply of homes for sale and mortgage rates continued to fall in June. Single-family homes and townhouses were much more likely than condos to receive multiple bids.
Bidding Wars Climb in May as Coronavirus Intensifies Housing Shortage
While sellers have started to jump back into the market as states across the country reopen, there remains a shortage in houses for sale, which is fueling bidding wars.
41% of Redfin Offers Faced Bidding Wars in Late April, Early May Amid Coronavirus Pandemic
The coronavirus pandemic has contributed to a severe shortfall in housing supply, which has led to a significant bidding-war rate.
Housing Shortage Leads to Intense Competition Among Homebuyers
A majority of offers submitted by Redfin agents faced competition in January according to a survey of more than 500 Redfin agents across the nation.
Bidding War Rate Fell to Another 10-Year Low in December
Just 9% of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in December, down from 12% a year earlier.
Bidding Wars Remain at 10-Year Low in November
Nationally, just 10% of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in November.
