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Cities With The Most Bidding Wars
ate
On Home Offers In February 2022,
ou need t0 know about
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Redfin agents said that nearly two-thirds of their home offers involved a bidding war:
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The Lede
In February 2022,the percentage of home offers on Redfin properties that faced bidding wars
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was 68.6 precent; compared to 60.2 percent during the same time last year: In April 2020, only
32.7 percent of offers had bidding wars. "Competition will likely plateau or even decline if rates
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keep increasing as expected. Monthly mortgage payments for new buyers are already at &
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record
high
As they continue to creep Up, some buyers will move to the sidelines
said Daryl
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tilpa
Fairweather; Redfin's chief economist:
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