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IT'$ GETTING HOT IN HERE
Cities With The Most Bidding Wars On Home Offers In
February 2022, Ranked
Submitted by
Aclwait
day ag0 via
redfin com
Redfin agents said that nearly two-thirds of their home offers involved
bidding war:
446
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.
Homes priced between S1-1.5M had the highest chances of competition, where those under $200K had
the least:
Additional submission from Adwait:
The World's Happiest Countries In 2022, Ranked
Submitted
day ago via travel
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