Housing Market News
Bidding Wars
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.
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.
