Buyer Competition Down In November
59.5 Percent of Redfin home offers faced bidding wars last month—the lowest rate in nearly a year
59.5 Percent of Redfin home offers faced bidding wars last month—the lowest rate in nearly a year
Last month’s numbers mark the highest annual and monthly growth rates in at least two years
For the week ending December 12, the number of homes for sale fell to an all-time low
The median sale price hit $360,250—a 30 percent increase from 2019
For the four-week period ending Nov. 14, new listings were down 3 percent from a year earlier
Despite rapidly declining affordability, nearly half of available home find a buyer within two weeks
The 6 percent drop marks a first since the pandemic market boom began, though prices remain high
And yet, prices are up 15 percent from a year ago
Home may still be selling quickly and generally over-asking, but the market appears to be stabilizing
Ever so slowly, the data is pointing to a slowing market where prices slide down as inventory ticks up
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