Housing Market Roundup Mar. 15, 2022

Here’s a quick recap of housing market stories that have recently come across the MBA NewsLink desk:

Redfin: Bidding Wars Persist Amid Holiday Slowdown

It’s been a most unusual year for housing; the traditional spring home buying season stretched into summer, then fall, then winter. And even amid a slowdown over the holidays, Redfin, Seattle, said bidding wars on homes for sale continued nearly unabated.

Redfin: 7 in 10 Buyers Still Face Bidding Wars

Redfin, Seattle, said 70.4% of home offers written by Redfin agents faced competition in May, down from 73.6% in April, but still up significantly from 52.7% a year ago.

Bidding Wars Intensify for Entry Level Homes

Redfin, Seattle, said bidding wars eased up slightly in September, but more than half of properties saw competitive bids. A separate report from Zillow, Seattle, showed the most intense competition was for entry level homes.

Housing Shortage Brings Upsurge in Bidding Wars

Redfin, Seattle, said a majority of offers submitted by its agents faced competition in January, marking a return to widespread bidding wars that had largely dissipated over the past year.