Bidding wars continue to decline

According to a new report from Redfin, bidding wars declined for the fifth straight month in September to 58.9 percent of offers. This was done from August’s rate of 60.8 percent. The peak for bidding wars was in April 2021 at 74.3 percent.

Of course, 58.9 percent means that over half of all offers faced bidding wars. Analysts also pointed out that September generally brings a seasonal decline as schools re-open and the weather cools.

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