‘A lot of buyers have had enough’: Bidding wars for homes falls to lowest level since 2020

‘A lot of buyers have had enough’: Bidding wars for homes falls to lowest level since 2020
·3 min read

The frequency of bidding wars on homes has dropped to the lowest level this year — the latest sign that the housing market may be cooling and reverting back to its usual seasonal patterns. A new report from Redfin (RDFN) found that 58.8% of the offers on homes written by the company’s real-estate agents faced competition in August. Redfin defines a bidding war as any situation where there are at least two competing bids on a home.

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