The Homebuyer Bidding Wars Seem To Be Calming Down

An increase in housing supply and seasonal trends are likely behind this new trend.

By Ted Knutson | August 17, 2021 at 07:13 AM

Redfin says the homebuyer bidding war seen by its agents has dropped to the lowest rate since January. About 60% of offers written by Redfin agents faced competition in July, down from 65.5% in June.

The rate of 60% in July was a steep fall off from the pandemic high of 74.1% this April but still higher than the 57.9% year-over-year when the housing market was recovering following a shutdown caused by pandemic restrictions.

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