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Homebuyer Competition Ticked Up in
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February; Hitting Record High
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Published on March 18,2022 by Lily Katz
in
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Bidding wars are intensifying ata slower pace than they were
at the start of the pandemic:
AII-Cash Homebuyers
Are Four Times More
Nationwide, 68.6% of home offers written by Redfin agents faced bidding wars on a seasonally adjusted basis in
Likely to Win a Bidding
February_the highest level in Redfin's records; which date back to April 2020. That's up slightly from a revised rate
War
of 68% in January and 60.2% a year earlier: On an unadjusted basis, Februarys
bidding-'
war rate was 71.4%.
Homebuyer Competition Remains Fiercein February
Nearly 6,000 U.S:
Monthly share of Redfin home offers that faced competition (seasonally adjusted)
Homes Have Sold For
S100,000+ Above
68.6%
Feb.2022
Asking Price This Year
70%
65%
68.0%
January Was the Most
60%
Jan.2022
Competitive Month on
55%
Record for Homebuyers
60.2%
Feb.2021
50%
45%
3in 5 Home Offers
40%
Faced Bidding Wars in
December Even Amid