Tag Archives: bidding wars

Redfin reports that just 12% of offers faced a bidding war in June 2019, which is a 52% decrease year-over-year.  The report added that despite the cooling, San ...

One factor more than any other has been the reason that bidding wars on homes are fast becoming a thing of the past, according to a new study.

The housing market has been seeing some noticeable changes this year as home values move upward. According to the May Zillow Real Estate Market Reports, bidding wars are pushing home values up in the nation’s most popular housing markets, although home values are not anywhere near their peak points during the real estate bubble in smaller markets.

In the 1980s, only 3 to 4 percent of homes were sold in bidding wars. From 1995 to 2005 that number skyrocketed, with Washington D.C., having on the highest rates at nearly 30 percent of homes sold involved in bidding wars. However, according to the study although an increase in bidding wars was correlated with economic and housing booms, that rise was not consistent from one jurisdiction to another. In the Houston, the rate was only 11 percent, even though the city benefited from the housing boom.