Housing Market News
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 of the market. Nationwide, 44.6% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in August, the lowest bidding-war rate since the beginning of the
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. Nationwide, 44.3% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in July, compared with a revised rate of 50.9% one month earlier and 63.8%
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 a bite out of homebuyer budgets. Nationwide, 49.9% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in June. That’s the lowest share since May
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 face less competition when they buy their next home. Nationwide, 57.8% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in May, the lowest level
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 drop out. Riverside, CA and Atlanta saw the biggest annual declines. Nationwide, 60.7% of home offers written by Redfin agents encountered competition on a seasonally adjusted basis in April, the
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 written by Redfin agents faced competition on a seasonally adjusted basis in March, down from a revised rate of 66.7% in February. That’s the first month-over-month decline since September—a sign
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 of the market. Nationwide, 44.6% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in August, the lowest bidding-war rate since the beginning of the
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. Nationwide, 44.3% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in July, compared with a revised rate of 50.9% one month earlier and 63.8%
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 a bite out of homebuyer budgets. Nationwide, 49.9% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in June. That’s the lowest share since May
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 face less competition when they buy their next home. Nationwide, 57.8% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in May, the lowest level
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 drop out. Riverside, CA and Atlanta saw the biggest annual declines. Nationwide, 60.7% of home offers written by Redfin agents encountered competition on a seasonally adjusted basis in April, the
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 written by Redfin agents faced competition on a seasonally adjusted basis in March, down from a revised rate of 66.7% in February. That’s the first month-over-month decline since September—a sign