Fewer Bidding Wars

 

 

The Housing Market Is Seeing Fewer Bidding Wars

The housing market is seeing fewer bidding wars

The heated bidding wars among would-be homeowners are cooling — but the housing market is still hot, according to new data from real estate firm Redfin.

"It’s typical for competition to ease in the winter months as more families take time off for the holidays," said Fairweather. "

The market with the lowest amount of competition was Jacksonville, Florida, where just 33.3% of Redfin offers faced competition, down from 46.9% in October.

 

That has helped push the median sale price of homes to $360,375, up 14% over the same time last year and up 31% over November in 2019, according to Redfin.