Buyers face bidding battles in May, June

By Dana Anderson | Redfin

54% of Redfin offers faced competition as the supply of homes for sale and mortgage rates continued to fall in June. Single-family homes and townhouses were much more likely than condos to receive multiple bids.

More than half of Redfin offers for homes faced competition in June for the second month in a row. Nationwide, 53.7% of Redfin offers faced bidding wars last month, up from a revised rate of 51.8% in May and 44.4% in April*.

An offer is considered part of a bidding war if a Redfin agent reported that it received at least one competing bid.

The bidding-war rate is rising even as the coronavirus pandemic and the shaky economy that comes with it continues to spread across the country.

READ ON:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

July 2020
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031