News Releases
The national bidding war rate hasn't surpassed 15 percent since
"Mortgage rates have been mostly flat for the last month, and so has homebuyer competition, which was beginning a fast descent this time last year as mortgage rates were inching toward 5 percent," said Redfin chief economist
"Although the market isn't as hot as it was last year, this spring and summer have been busy in
Metro area |
Share of Redfin |
Share of Redfin offers |
Share of Redfin offers |
San Francisco, CA |
35% |
72.4% |
28% |
San Diego, CA |
21.3% |
61.5% |
19.4% |
Boston, MA |
16.4% |
63.6% |
17.2% |
Los Angeles, CA |
16% |
64.6% |
13.7% |
Philadelphia, PA |
14.3% |
36.7% |
9.1% |
Denver, CO |
14% |
48.8% |
12.3% |
Phoenix, AZ |
13.6% |
47.6% |
10.9% |
San Jose, CA |
13.3% |
80% |
10.5% |
Sacramento, CA |
9.4% |
39.2% |
11.8% |
Washington, D.C. |
9.1% |
40.1% |
9.9% |
Raleigh, NC |
8.9% |
28.6% |
6.6% |
Portland, OR |
8.7% |
36.6% |
11.8% |
Chicago, IL |
8.1% |
31% |
10% |
Seattle, WA |
7.8% |
40.6% |
11.5% |
Atlanta, GA |
7.8% |
34.7% |
7.2% |
Austin, TX |
7.8% |
39.0% |
8.7% |
Las Vegas, NV |
7.3% |
31% |
11.5% |
Dallas, TX |
6.6% |
43% |
5.3% |
New York, NY |
6.3% |
40.8% |
15.1% |
Houston, TX |
4.8% |
37.5% |
7.9% |
Miami, FL |
1.3% |
29.6% |
0% |
National |
11.2% |
45.5% |
12.3% |
To read the full report, please visit: https://www.redfin.com/blog/july-2019-real-estate-bidding-wars.
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. and
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the
View original content to download multimedia:http://www.prnewswire.com/news-releases/redfin-report-11-of-redfin-home-purchase-offers-faced-competition-in-july-the-lowest-rate-since-at-least-2011-300897686.html
SOURCE Redfin
Redfin Journalist Services, Erin Osgood, 206-588-6863, press@redfin.com