Among Redfin brokers who submitted offers, 59 percent faced competition in August - 2021’s slowest month for bidding wars - down from a peak of 74 percent in April and 60 percent in August 2020. The report shows that multiple bids on a property were less common nationwide in August than they were in the previous month and a year ago. Homes aren’t moving as quickly, either: 47 percent sold during this period went into contract within two weeks, down from the March apex of 56 percent.īidding wars are worth keeping your eye on too, according to Redfin. 5, half of homes sold went for over the asking price - down from a July peak of 55 percent.

But could this sellers’ market finally be on the way out? Data suggests that may be the case.Ī new report by Redfin examining more than 350 metropolitan areas nationwide shows that in the four weeks ending Sept. If the pandemic has been good to anybody, it’s been homeowners listing their properties, as pent-up demand for homes has sent prices skyrocketing.