{"id":73047,"date":"2021-08-16T05:00:28","date_gmt":"2021-08-16T12:00:28","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=73047"},"modified":"2021-08-16T00:31:03","modified_gmt":"2021-08-16T07:31:03","slug":"real-estate-bidding-wars-july-2021","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/","title":{"rendered":"Homebuyer Bidding-War Rate Drops to Lowest Level Since January"},"content":{"rendered":"<ul>\n<li>\n<h5><i>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 year ago.<\/i><\/h5>\n<\/li>\n<li>\n<h5><i>July\u2019s slowdown comes amid a broader cooling in the housing market, which is being driven by an increase in supply.<\/i><\/h5>\n<\/li>\n<li>\n<h5><i>A drop-off in migration from major cities including San Francisco may also be contributing to easing competition, especially in markets like Sacramento.<\/i><\/h5>\n<\/li>\n<\/ul>\n<p>In July, 60.1% of home offers written by Redfin agents faced competition, down from a revised rate of 66.5% in June and a pandemic peak of 74.1% in April. While July\u2019s bidding-war rate was the lowest since January, it was still higher than the 57.9% bidding-war rate we saw in July 2020, when the housing market was <a href=\"https:\/\/www.redfin.com\/news\/housing-market-news-july-2020\/\">recovering<\/a> following a shutdown caused by pandemic restrictions.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-73048\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart.png\" alt=\"\" width=\"800\" height=\"600\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart.png 1600w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart-768x576.png 768w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart-1536x1152.png 1536w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p>An offer is considered part of a bidding war if a Redfin agent reported that it faced at least one competing bid. This data is subject to revision.<\/p>\n<p>Homebuying conditions have been <a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-buying-conditions-improve\/\" target=\"_blank\" rel=\"noopener\">improving<\/a> this summer following months of fierce competition and soaring prices that were driven by an intensifying housing shortage, a pandemic moving spree made possible by remote work and historically low mortgage rates. Home prices are <a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-price-drops-on-par-with-2019\/\" target=\"_blank\" rel=\"noopener\">stabilizing<\/a> amid an increase in housing supply. Increased supply gives buyers more options to choose from, which helps reduce competition.\u00a0<\/p>\n<p>It\u2019s also typical for competition to ease in the summer following the spring homebuying season, so seasonality is another factor at play.\u00a0<\/p>\n<p>\u201cCompetition has started to slow in the last three weeks. We\u2019re now seeing five to eight offers on homes instead of 25, and they\u2019re coming in $5,000 to $10,000 above the listing price instead of $50,000 to $60,000,\u201d said <a href=\"https:\/\/www.redfin.com\/real-estate-agents\/scott-mercer\" target=\"_blank\" rel=\"noopener\">Scott Mercer<\/a>, a Redfin real estate agent in <a href=\"https:\/\/www.redfin.com\/city\/16409\/CA\/Sacramento\">Sacramento, CA<\/a>. \u201cBuyers are pushing back. They\u2019ve even started including appraisal contingencies again and making requests for repairs\u2014things that were pretty much unheard of last year.\u201d<\/p>\n<h3>Fort Collins and Orlando Have the Highest Bidding-War Rates<\/h3>\n<p><a href=\"https:\/\/www.redfin.com\/city\/7006\/CO\/Fort-Collins\">Fort Collins, CO<\/a>\u2014a college town and the state\u2019s fourth-most-populous city\u2014had the highest bidding-war rate of the 47 U.S. metropolitan areas in this analysis, with 77.3% of offers written by Redfin agents facing competition in July. Next came <a href=\"https:\/\/www.redfin.com\/city\/13655\/FL\/Orlando\">Orlando, FL<\/a>, at 77%, and <a href=\"https:\/\/www.redfin.com\/city\/13415\/TN\/Nashville\">Nashville, TN<\/a>, at 74.6%. <a href=\"https:\/\/www.redfin.com\/city\/34945\/HI\/Honolulu\">Honolulu, HI<\/a> and <a href=\"https:\/\/www.redfin.com\/city\/4147\/CO\/Colorado-Springs\">Colorado Springs, CO<\/a> rounded out the top five, with bidding-war rates of 74.1% and 73.2%, respectively.\u00a0<\/p>\n<p><a href=\"https:\/\/www.redfin.com\/city\/16409\/CA\/Sacramento\">Sacramento, CA<\/a> came in sixth place, with a bidding-war rate of 72.9%, down from 77.2% in June.\u00a0<\/p>\n<p>\u201cA slowdown in the migration of tech workers from the Bay Area is the biggest factor driving the drop in competition in <a href=\"https:\/\/www.redfin.com\/city\/16409\/CA\/Sacramento\">Sacramento<\/a>,\u201d Mercer said. \u201c<a href=\"https:\/\/www.redfin.com\/city\/16409\/CA\/Sacramento\">Sacramento<\/a> <a href=\"https:\/\/www.redfin.com\/news\/july-2020-housing-migration-trends\/\" target=\"_blank\" rel=\"noopener\">exploded<\/a> in popularity among remote workers during the pandemic. People coming from <a href=\"https:\/\/www.redfin.com\/city\/17151\/CA\/San-Francisco\">San Francisco<\/a> were like kids in a candy store here because home prices were so inexpensive in comparison. But we\u2019re no longer seeing as big of an influx of those folks, likely because families can finally travel again and employers are asking people to come back to the office. It will be interesting to see if migration to <a href=\"https:\/\/www.redfin.com\/city\/16409\/CA\/Sacramento\">Sacramento<\/a> rebounds if the Covid situation continues to worsen.\u201d<\/p>\n<p><a href=\"https:\/\/www.redfin.com\/city\/16409\/CA\/Sacramento\">Sacramento<\/a> was still the third-most-popular migration <a href=\"https:\/\/www.redfin.com\/news\/q2-2021-housing-migration-trends\/\" target=\"_blank\" rel=\"noopener\">destination<\/a> in the second quarter. That\u2019s based on net inflow, a measure of how many more Redfin.com home searchers looked to move into a metro than leave. Nationally, migration did slow slightly: 31.1% of Redfin.com users looked to move to a different metro in the second quarter, down from 31.5% a quarter earlier.<\/p>\n<p>Metros must have had at least 20 offers recorded by Redfin agents in both July 2021 and June 2021 to be included in this analysis.<\/p>\n<h3>Bidding-War Rates by Metro Area<\/h3>\n<p>To be included in the table below, metros must have had at least 20 offers recorded by Redfin agents in both July 2021 and June 2021. The table is sorted by highest to lowest bidding-war rates in July 2021. Blank spaces in the July 2020 column represent metros for which there were fewer than 20 offers submitted by Redfin agents that month.<\/p>\n\n<table id=\"tablepress-283\" class=\"tablepress tablepress-id-283\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><b>U.S. Metro Area<\/b><\/th><th class=\"column-2\"><b>Share of Redfin offers that faced bidding wars in July 2021<\/b><\/th><th class=\"column-3\"><b>Share of Redfin offers that faced bidding wars in June 2021<\/b><\/th><th class=\"column-4\"><b>Share of Redfin offers that faced bidding wars in July 2020<\/b><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/7006\/CO\/Fort-Collins\">Fort Collins, CO<\/a><\/td><td class=\"column-2\">77.3%<\/td><td class=\"column-3\">63.2%<\/td><td class=\"column-4\">\u2014<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/13655\/FL\/Orlando\">Orlando, FL<\/a><\/td><td class=\"column-2\">77.0%<\/td><td class=\"column-3\">71.1%<\/td><td class=\"column-4\">37.8%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/13415\/TN\/Nashville\">Nashville, TN<\/a><\/td><td class=\"column-2\">74.6%<\/td><td class=\"column-3\">74.0%<\/td><td class=\"column-4\">33.3%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/34945\/HI\/Honolulu\">Honolulu, HI<\/a><\/td><td class=\"column-2\">74.1%<\/td><td class=\"column-3\">70.0%<\/td><td class=\"column-4\">68.0%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/4147\/CO\/Colorado-Springs\">Colorado Springs, CO<\/a><\/td><td class=\"column-2\">73.2%<\/td><td class=\"column-3\">43.3%<\/td><td class=\"column-4\">69.2%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/16409\/CA\/Sacramento\">Sacramento, CA<\/a><\/td><td class=\"column-2\">72.9%<\/td><td class=\"column-3\">77.2%<\/td><td class=\"column-4\">52.4%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/3478\/SC\/Charleston\">Charleston, SC<\/a><\/td><td class=\"column-2\">71.4%<\/td><td class=\"column-3\">82.9%<\/td><td class=\"column-4\">59.1%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/3105\/NC\/Charlotte\">Charlotte, NC<\/a><\/td><td class=\"column-2\">70.8%<\/td><td class=\"column-3\">79.5%<\/td><td class=\"column-4\">47.9%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/16904\/CA\/San-Diego\">San Diego, CA<\/a><\/td><td class=\"column-2\">69.8%<\/td><td class=\"column-3\">73.0%<\/td><td class=\"column-4\">70.3%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/10201\/NV\/Las-Vegas\">Las Vegas, NV<\/a><\/td><td class=\"column-2\">68.6%<\/td><td class=\"column-3\">59.2%<\/td><td class=\"column-4\">33.9%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/19459\/AZ\/Tucson\">Tucson, AZ<\/a><\/td><td class=\"column-2\">68.4%<\/td><td class=\"column-3\">55.6%<\/td><td class=\"column-4\">33.3%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/18142\/FL\/Tampa\">Tampa, FL<\/a><\/td><td class=\"column-2\">66.7%<\/td><td class=\"column-3\">56.3%<\/td><td class=\"column-4\">53.1%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/5155\/CO\/Denver\">Denver, CO<\/a><\/td><td class=\"column-2\">66.5%<\/td><td class=\"column-3\">65.2%<\/td><td class=\"column-4\">44.8%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/17151\/CA\/San-Francisco\">San Francisco<\/a> \/ <a href=\"https:\/\/www.redfin.com\/city\/17420\/CA\/San-Jose\">San Jose, CA<\/a><\/td><td class=\"column-2\">66.3%<\/td><td class=\"column-3\">71.4%<\/td><td class=\"column-4\">72.9%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/16657\/TX\/San-Antonio\">San Antonio, TX<\/a><\/td><td class=\"column-2\">66.3%<\/td><td class=\"column-3\">69.4%<\/td><td class=\"column-4\">51.9%<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/35711\/NC\/Raleigh\">Raleigh, NC<\/a><\/td><td class=\"column-2\">65.9%<\/td><td class=\"column-3\">74.8%<\/td><td class=\"column-4\">40.0%<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/1826\/MA\/Boston\">Boston, MA<\/a><\/td><td class=\"column-2\">63.9%<\/td><td class=\"column-3\">73.2%<\/td><td class=\"column-4\">62.5%<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/4664\/OH\/Columbus\">Columbus, OH<\/a><\/td><td class=\"column-2\">63.2%<\/td><td class=\"column-3\">58.8%<\/td><td class=\"column-4\">55.3%<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/30794\/TX\/Dallas\">Dallas, TX<\/a><\/td><td class=\"column-2\">63.0%<\/td><td class=\"column-3\">66.9%<\/td><td class=\"column-4\">49.5%<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/15502\/PA\/Philadelphia\">Philadelphia, PA<\/a><\/td><td class=\"column-2\">63.0%<\/td><td class=\"column-3\">64.2%<\/td><td class=\"column-4\">66.2%<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/30772\/OR\/Portland\">Portland, OR<\/a><\/td><td class=\"column-2\">62.7%<\/td><td class=\"column-3\">70.0%<\/td><td class=\"column-4\">63.6%<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/16463\/FL\/Sarasota\">Sarasota, FL<\/a><\/td><td class=\"column-2\">62.1%<\/td><td class=\"column-3\">87.0%<\/td><td class=\"column-4\">\u2014<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/11203\/CA\/Los-Angeles\">Los Angeles, CA<\/a><\/td><td class=\"column-2\">61.8%<\/td><td class=\"column-3\">67.6%<\/td><td class=\"column-4\">67.8%<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/14237\/OK\/Oklahoma-City\">Oklahoma City, OK<\/a><\/td><td class=\"column-2\">60.9%<\/td><td class=\"column-3\">52.4%<\/td><td class=\"column-4\">\u2014<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/30818\/TX\/Austin\">Austin, TX<\/a><\/td><td class=\"column-2\">60.8%<\/td><td class=\"column-3\">73.1%<\/td><td class=\"column-4\">55.0%<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/10943\/MN\/Minneapolis\">Minneapolis, MN<\/a><\/td><td class=\"column-2\">60.7%<\/td><td class=\"column-3\">58.8%<\/td><td class=\"column-4\">52.2%<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/12839\/DC\/Washington-DC\">Washington, D.C.<\/a><\/td><td class=\"column-2\">59.6%<\/td><td class=\"column-3\">66.5%<\/td><td class=\"column-4\">65.0%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/16163\/WA\/Seattle\">Seattle, WA<\/a><\/td><td class=\"column-2\">59.5%<\/td><td class=\"column-3\">71.8%<\/td><td class=\"column-4\">57.7%<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/17154\/WA\/Spokane\">Spokane, WA<\/a><\/td><td class=\"column-2\">59.5%<\/td><td class=\"column-3\">76.7%<\/td><td class=\"column-4\">62.5%<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/8907\/FL\/Jacksonville\">Jacksonville, FL<\/a><\/td><td class=\"column-2\">58.1%<\/td><td class=\"column-3\">65.9%<\/td><td class=\"column-4\">\u2014<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/30756\/GA\/Atlanta\">Atlanta, GA<\/a><\/td><td class=\"column-2\">57.1%<\/td><td class=\"column-3\">58.0%<\/td><td class=\"column-4\">51.5%<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/17150\/UT\/Salt-Lake-City\">Salt Lake City, UT<\/a><\/td><td class=\"column-2\">56.5%<\/td><td class=\"column-3\">63.1%<\/td><td class=\"column-4\">74.2%<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/3879\/OH\/Cincinnati\">Cincinnati, OH<\/a><\/td><td class=\"column-2\">56.5%<\/td><td class=\"column-3\">67.6%<\/td><td class=\"column-4\">\u2014<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/1411\/WA\/Bellingham\">Bellingham, WA<\/a><\/td><td class=\"column-2\">55.2%<\/td><td class=\"column-3\">66.7%<\/td><td class=\"column-4\">55.0%<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/15702\/PA\/Pittsburgh\">Pittsburgh, PA<\/a><\/td><td class=\"column-2\">54.7%<\/td><td class=\"column-3\">57.1%<\/td><td class=\"column-4\">63.9%<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/9170\/IN\/Indianapolis\">Indianapolis, IN<\/a><\/td><td class=\"column-2\">54.0%<\/td><td class=\"column-3\">72.7%<\/td><td class=\"column-4\">67.6%<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/35751\/MO\/Kansas-City\">Kansas City, MO<\/a><\/td><td class=\"column-2\">53.8%<\/td><td class=\"column-3\">78.6%<\/td><td class=\"column-4\">\u2014<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/14240\/AZ\/Phoenix\">Phoenix, AZ<\/a><\/td><td class=\"column-2\">53.0%<\/td><td class=\"column-3\">58.8%<\/td><td class=\"column-4\">48.3%<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/29470\/IL\/Chicago\">Chicago, IL<\/a><\/td><td class=\"column-2\">52.7%<\/td><td class=\"column-3\">57.9%<\/td><td class=\"column-4\">43.1%<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/8903\/TX\/Houston\">Houston, TX<\/a><\/td><td class=\"column-2\">51.8%<\/td><td class=\"column-3\">59.3%<\/td><td class=\"column-4\">52.1%<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/5665\/MI\/Detroit\">Detroit, MI<\/a><\/td><td class=\"column-2\">50.7%<\/td><td class=\"column-3\">60.8%<\/td><td class=\"column-4\">41.3%<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/20418\/VA\/Virginia-Beach\">Virginia Beach, VA<\/a><\/td><td class=\"column-2\">49.1%<\/td><td class=\"column-3\">51.9%<\/td><td class=\"column-4\">\u2014<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/11458\/FL\/Miami\">Miami, FL<\/a><\/td><td class=\"column-2\">46.8%<\/td><td class=\"column-3\">52.8%<\/td><td class=\"column-4\">42.9%<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/30749\/NY\/New-York\">New York, NY<\/a><\/td><td class=\"column-2\">43.2%<\/td><td class=\"column-3\">56.5%<\/td><td class=\"column-4\">61.7%<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/4145\/OH\/Cleveland\">Cleveland, OH<\/a><\/td><td class=\"column-2\">38.7%<\/td><td class=\"column-3\">56.7%<\/td><td class=\"column-4\">\u2014<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/17149\/VA\/Richmond\">Richmond, VA<\/a><\/td><td class=\"column-2\">38.5%<\/td><td class=\"column-3\">61.5%<\/td><td class=\"column-4\">52.4%<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.redfin.com\/city\/14233\/LA\/New-Orleans\">New Orleans, LA<\/a><\/td><td class=\"column-2\">35.0%<\/td><td class=\"column-3\">56.0%<\/td><td class=\"column-4\">\u2014<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n","protected":false},"excerpt":{"rendered":"<p>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 year ago. July\u2019s slowdown comes amid a broader cooling in the housing market, which is being driven by an increase in supply. A drop-off in migration from major cities including [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":73048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[23,60,8],"tags":[30,9],"dashboard":[],"coauthors":[125],"class_list":["post-73047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bidding-wars","category-coronavirus-housing-market-news","category-housing-market-news","tag-bidding-wars","tag-coronavirus"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Homebuyer Bidding-War Rate Drops to Lowest Level Since January<\/title>\n<meta name=\"description\" content=\"America&#039;s red-hot housing market is starting to cool: 60% of home offers faced competition in July, down from 67% in June.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Homebuyer Bidding-War Rate Drops to Lowest Level Since January\" \/>\n<meta property=\"og:description\" content=\"America&#039;s red-hot housing market is starting to cool: 60% of home offers faced competition in July, down from 67% in June.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-16T12:00:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Lily Katz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lily Katz\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/\"},\"author\":{\"name\":\"Lily Katz\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/61b1278179ed9d76570212c0c595396f\"},\"headline\":\"Homebuyer Bidding-War Rate Drops to Lowest Level Since January\",\"datePublished\":\"2021-08-16T12:00:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/\"},\"wordCount\":659,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/final-bidding-wars-chart.png\",\"keywords\":[\"Bidding Wars\",\"Coronavirus\"],\"articleSection\":[\"Bidding Wars\",\"Coronavirus Housing Market News\",\"Housing Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/\",\"name\":\"Homebuyer Bidding-War Rate Drops to Lowest Level Since January\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/final-bidding-wars-chart.png\",\"datePublished\":\"2021-08-16T12:00:28+00:00\",\"description\":\"America's red-hot housing market is starting to cool: 60% of home offers faced competition in July, down from 67% in June.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/final-bidding-wars-chart.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/final-bidding-wars-chart.png\",\"width\":1600,\"height\":1200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/real-estate-bidding-wars-july-2021\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Homebuyer Bidding-War Rate Drops to Lowest Level Since January\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"name\":\"Redfin Real Estate News\",\"description\":\"The latest real estate news and research from technology-powered residential real estate company, Redfin.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.redfin.com/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\",\"name\":\"Redfin\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"width\":1100,\"height\":235,\"caption\":\"Redfin\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/redfin\",\"https:\\\/\\\/x.com\\\/redfin\",\"https:\\\/\\\/www.instagram.com\\\/redfinrealestate\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/redfin\",\"https:\\\/\\\/www.pinterest.com\\\/redfin\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/Redfin\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/61b1278179ed9d76570212c0c595396f\",\"name\":\"Lily Katz\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Lily_Katz-150x150.jpg170bf170d167b138a07120b77fbb41ab\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Lily_Katz-150x150.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Lily_Katz-150x150.jpg\",\"caption\":\"Lily Katz\"},\"description\":\"As a data journalist, Lily is passionate about helping readers understand complex facets of the housing market. She is particularly interested in the issues of climate change, race and gender equality and housing affordability. Prior to working at Redfin, Lily spent four years as a reporter at Bloomberg News in New York City.\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/author\\\/lily-katzredfin-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Homebuyer Bidding-War Rate Drops to Lowest Level Since January","description":"America's red-hot housing market is starting to cool: 60% of home offers faced competition in July, down from 67% in June.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/","og_locale":"en_US","og_type":"article","og_title":"Homebuyer Bidding-War Rate Drops to Lowest Level Since January","og_description":"America's red-hot housing market is starting to cool: 60% of home offers faced competition in July, down from 67% in June.","og_url":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2021-08-16T12:00:28+00:00","og_image":[{"width":1600,"height":1200,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart.png","type":"image\/png"}],"author":"Lily Katz","twitter_card":"summary_large_image","twitter_creator":"@redfin","twitter_site":"@redfin","twitter_misc":{"Written by":"Lily Katz","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/"},"author":{"name":"Lily Katz","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/61b1278179ed9d76570212c0c595396f"},"headline":"Homebuyer Bidding-War Rate Drops to Lowest Level Since January","datePublished":"2021-08-16T12:00:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/"},"wordCount":659,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart.png","keywords":["Bidding Wars","Coronavirus"],"articleSection":["Bidding Wars","Coronavirus Housing Market News","Housing Market News"],"inLanguage":"en-US","copyrightYear":"2021","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/","url":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/","name":"Homebuyer Bidding-War Rate Drops to Lowest Level Since January","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart.png","datePublished":"2021-08-16T12:00:28+00:00","description":"America's red-hot housing market is starting to cool: 60% of home offers faced competition in July, down from 67% in June.","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/08\/final-bidding-wars-chart.png","width":1600,"height":1200},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/real-estate-bidding-wars-july-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Homebuyer Bidding-War Rate Drops to Lowest Level Since January"}]},{"@type":"WebSite","@id":"https:\/\/www.redfin.com\/news\/#website","url":"https:\/\/www.redfin.com\/news\/","name":"Redfin Real Estate News","description":"The latest real estate news and research from technology-powered residential real estate company, Redfin.","publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redfin.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.redfin.com\/news\/#organization","name":"Redfin","url":"https:\/\/www.redfin.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","width":1100,"height":235,"caption":"Redfin"},"image":{"@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/redfin","https:\/\/x.com\/redfin","https:\/\/www.instagram.com\/redfinrealestate\/","https:\/\/www.linkedin.com\/company\/redfin","https:\/\/www.pinterest.com\/redfin\/","https:\/\/en.wikipedia.org\/wiki\/Redfin"]},{"@type":"Person","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/61b1278179ed9d76570212c0c595396f","name":"Lily Katz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Lily_Katz-150x150.jpg170bf170d167b138a07120b77fbb41ab","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Lily_Katz-150x150.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Lily_Katz-150x150.jpg","caption":"Lily Katz"},"description":"As a data journalist, Lily is passionate about helping readers understand complex facets of the housing market. She is particularly interested in the issues of climate change, race and gender equality and housing affordability. Prior to working at Redfin, Lily spent four years as a reporter at Bloomberg News in New York City.","url":"https:\/\/www.redfin.com\/news\/author\/lily-katzredfin-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/73047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13346"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=73047"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/73047\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/73048"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=73047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=73047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=73047"},{"taxonomy":"dashboard","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/dashboard?post=73047"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=73047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}