Redfin Bidding War Report Shows Home-Buying Competition Eased in May

If you were in the market for a home last month, chances are you weren’t the only one vying for it, as 69.5 percent of offers Redfin agents wrote last month faced competition. Don’t be discouraged, because things are looking up for homebuyers, as competition for homes across the country eased in May. Nationally, the percentage of offers written by Redfin agents that faced multiple bids fell 3.8 percentage points from 73.3 percent in April. Year-over-year, competition was basically flat, rising just 0.2 percentage points from 69.3 percent.

For the full report including data tables and charts, visit Real-Time Bidding Wars in Redfin’s Research Center.