Sixty-one percent of offers written by Redfin agents faced competition from other buyers in March, down slightly from 63 percent in March 2014 but up from 57 percent in February, according to Redfin. However, its report notes that the housing market seems more competitive this year because there are more properties for sale. A 9.2 percent increase in new listings has kept bidding wars below last year’s levels despite a 46 percent surge in home tour requests and a 36 percent increase in signed offers. Buyers are using cover letters to distinguish themselves from any competition. In March, 43 percent of winning offers used cover letters, up 35 percent from a year ago. The majority of the nation reports that bidding wars are down, with California proving to be the exception. | Read More
Recent Posts
- DOJ gets its way in buyer broker compensation suit
- Opinion: Why agents are more essential than ever
- Truework and Revvin partner to enhance income verification services for point-of-sale systems
- DataDigest: New data shows how brokerages, agents, landlords & homebuilders were reshaped by the pandemic
- Mortgage applications slump after rates surge to 23-year high
Archives
Categories
- Decor (1,395)
- Energy Saving Tips (15)
- Green Design (22)
- Greening Tips (1,378)
- Home Improvement (2,349)
- Home Remodeling (16)
- Home Security (10)
- Homeowners News (1,265)
- Homeowners News;Top Story (3)
- Housing and Mortgage Trends (1,658)
- Insurance (1)
- Maintenance and Repair (10)
- Safety (4)
- Smart Home Tech (1,118)
- Top Story (106)