Bidding Wars Tick Up – NMP
Industry News

Bidding Wars Tick Up

Oct 08, 2019
Photo credit: Getty Images/BrianAJackson

Eleven percent of offers written by Redfin agents on behalf of their homebuying customers in September came amid bidding wars, up from the eight-year low of 10 percent in August–but still down from 41 percent one year earlier.
 
San Francisco was the national leader in bidding wars, with 28 percent of Redfin offers being the subject of financial one-upmanship. Still, it was down from 69 percent from the previous year. Across the Bay Area, San Jose saw 18 percent of its offers recording bidding wars in September, down from 83 percent one year earlier.
 
"After the coolest spring home-selling season in at least eight years, homebuying competition didn't have far to fall, but low mortgage rates ultimately drove a modest uptick in bidding wars in late summer when they typically become less common," said Redfin Chief Economist Daryl Fairweather. "With mortgage rates likely to remain near historic lows, I expect the bidding war rate to continue to level off—rather than follow its typical end-of-year descent—as 2019 comes to a close."
 
About the author
Phil Hall
Link copied
Published
Oct 08, 2019
Get the NMP Daily
Industry News
Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Continue reading
Analysis and Data
Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News
Sep 23, 2026
Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News
Sep 23, 2026
Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies
Sep 23, 2026
Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance
Sep 22, 2026
MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News
Sep 22, 2026