REDFIN | News
Search_
Homebuyer Competition Ticked Up in February, Hitting
Record High
Published on March 18,2022 by Lily Katz
in
Bidding wars are intensifying ata slower pace than they were at
the start of the pandemic
Nationwide; 68.6% of home offers written by Redfin agents faced bidding wars on a seasonally
adjusted basis in February_the highest level in Redfin's records, which date back to April 2020.
That's up slightly from a revised rate of 68% in January and 60.2%
year earlier: On an unadjusted
basis, February's bidding-war rate was 71.4%.
Homebuyer CompetitionRemains Fierce in February
Monthly share of Redfin home offers that faced competition (seasonally adjusted)
68.690
Feb.2022
70%
65%
68.090
60%
Jan. 2022
55%
60.2%0
Feb. 2021
50%
45%
40%
35%
32.790
April 2020
30%
2596
20%
8
8
8
88888883888858888888
Source: Offers submited by Redfin agents
Note: Datais seasonallyadjusted
An offer is considered part of a bidding war if a Redfin agent reported that it received at least one