Here’s a quick recap of housing market stories that have recently come across the MBA NewsLink desk:
Tag: Bidding Wars
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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.
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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.
![](https://newslink.mba.org/wp-content/uploads/2020/09/HouseSold5.jpg?w=465&h=310&crop=1)
Redfin: Bidding-War Rate Intensifies as Housing Shortage Fuels Fierce Competition
Redfin, Seattle, reported nationwide, 60.9% of home offers written by Redfin agents faced bidding wars in February, up from a revised rate of 59.3% in January, the 10th-straight month in which more than half of offers encountered competition.
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In Bidding Wars, Cash—Especially All-Cash—is King
With more than half of home sales in many U.S. markets seeing multiple offers, one strategy seems to be working in winning the bidding war—cold, hard cash.
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Bidding Wars Strong for 7th Straight Month; Homes Selling at Fastest Pace in 8 Years
The national median home price rose 14% year over year to $335,519 in November, according to Redfin, Seattle. And in many housing market hotspots, bidding wars persist for more than half of home sales.
![](https://newslink.mba.org/wp-content/uploads/2020/07/HouseUnderContract9.jpg?w=465&h=310&crop=1)
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.
![](https://newslink.mba.org/wp-content/uploads/2020/07/HouseUnderContract7Redfin.jpg?w=465&h=310&crop=1)
Home Sellers’ Asking Prices Up 13% from Last Year as Demand Keeps Soaring
Redfin, Seattle, said listing prices of homes for sale nationally jumped by 13% to a record-high $328,500 during the four-week period ending July 12.
![](https://newslink.mba.org/wp-content/uploads/2020/06/HouseForSale6.jpg?w=465&h=310&crop=1)
Home Report: Demand Higher than Before Pandemic; So is Stress Amid Falling Inventories, Lingering COVID Concerns
Reports from Redfin, Seattle, and Clever Real Estate, St. Louis, illustrate the lingering effects of the coronavirus on the home-buying process—and the current state of home-buying demand.
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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.