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IT'$ GETTING HoT IN HERE
24 members
Cities With The Most Bidding Wars
Real Estate
On Home Offers In February 2022,
Everything you need to know about
Ranked
the market, development and future of
Submitted by
Acliwait
day ag0 via
redfin com
real
estate
Redfin agents
that nearly two-thirds of their home offers involved
bidding war:
446
Join Real Estate
The Lede
In February 2022, the percentage of home offers on Redfin properties that faced bidding wars
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
keep increasing as expected: Monthly mortgage payments for new buyers are already at
record
high
As they continue to creep up
some
buyers will move to the sidelines,
said Daryl
Fairweather; Redfin's chief economist:
Key Details
87.5 percent of home offers in El Paso (TX) saw bidding wars
the highest percentage in the
US. Buyers in Denver (83 percent), Minneapolis (81.1 percent), Raleigh (80 percent) and the
Bay Area (79.9 percent) followed:
Greensboro (25.9 percent), Bakersfield (39.4 percent), Cleveland (46.4 percent), Jacksonville
(46.7 percent) and Allentown (52.2 percent) were among the least competitive markets_
digp
said