Redfin Reports Bidding Wars Percolating Again

Feb 24, 2020

After a relative calm during the latter part of 2019, bidding wars for available housing heated up again in January, according to a new survey by Redfin of more than 500 of its real estate agents across the country.

Of the 24 markets where Redfin received a significant volume of responses from agents, homebuyers in all but five engaged in competition to secure a new property. The San Francisco Bay Area had the highest rate of competition, with agents estimating multiple home offers occurred more than 90 percent of the time, even though the market’s median home price was above $1 million.

"Low mortgage rates have brought buyers back to the housing market, but a lack of listings means buyers are having to compete with one another to secure a sale and lock in a mortgage rate," said Redfin Chief Economist Daryl Fairweather. "This competition pushes up prices, which means that even though buyers can get a good deal on a mortgage now they are often paying a higher sticker price."

About the author

Phil Hall

Link copied

Published

Feb 24, 2020

Analysis and Data

'Mixed Results' For Mortgage Delinquency Rates For Q1 2025

Conventional mortgage delinquencies up slightly, while delinquencies on FHA and VA loans declined

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.04% of all loans outstanding at the end of the first quarter of 2025, according to the Mortgage Bankers Association’s (MBA) National Delinquency Su...

People On The Move

Ameritrust Mortgage Hires Ryan Rathert As CFO

Rathert joins Ameritrust as company seeks to expand its national footprint

Mortgage industry executive Ryan Rathert has been hired as the new CFO at Ameritrust Mortgage, a mortgage lender operating in multiple U.S. states that offers conventional, FHA, VA, and Non-QM home loans. “Exciting times ahead at Ameritrust Mortgage,” the company’s CEO, ...