Skip to main content

More Buyers Snag First Home They Bid On

Apr 17, 2019
Photo credit: Getty Images/Rawpixel

Homebuyers are increasingly more likely to win the first property that they bid on, according to new data from Redfin.
 
During the first quarter of this year, 56 percent of buyers nationwide closed on the first home they made an offer on, up from 52 percent one year ago. This also represents the highest first-offer success rate tracked by Redfin in three years.
Charlotte, N.C., has the highest level of success of closing on the first home bid upon (70 percent), San Jose came in second at 63 percent and also registered the most dramatic movement away from bidding wars—last year, only 25 percent of San Jose homebuyers successfully purchased the first home they made an offer on. Other evidence of dwindling bidding wars was seen in Seattle (59 percent, up from 45 percent one year earlier) and San Diego (53 percent, up from 38 percent last year).
 
"Last year, homebuyers had to pull out all the stops to land a home in competitive West Coast markets, but this year there are more homes for sale and the odds are more in the buyer's favor," said Redfin Chief Economist Daryl Fairweather. "In San Jose, the market has dramatically slowed from a year ago, and it's actually now easier to get an offer accepted in San Jose than in many other parts of the country."
Homebuyers are increasingly more likely to win the first property that they bid on, according to new data from Redfin

 
About the author
Published
Apr 17, 2019
Fed Holds Rates Steady As Economic Growth Stays Solid

Move comes amid mounting pressure, frustration from President Trump

Guild Mortgage To Go Private In $1.3B Deal With Bayview Asset Management

Guild to remain independent post-acquisition, strengthening national retail and servicing strategy

Jun 18, 2025
Rocket Pro And Vetted VA Join Forces

What started as a Facebook group now educates 100K+ veterans monthly — Vetted VA and Rocket Pro working to bring ethics, clarity to a broken system

Jun 17, 2025
MBA Urges Shift To Single Credit Report Model, Citing Cost Savings And Efficiency

MBA says tri-merge credit checks cost lenders up to $100 per loan, doubling since pre-COVID, as industry pushes for a cheaper, single-report model

Jun 16, 2025
Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Jun 13, 2025
Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next