{"id":15840,"date":"2019-08-12T13:26:00","date_gmt":"2019-08-12T13:26:00","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=15840"},"modified":"2019-08-12T13:26:02","modified_gmt":"2019-08-12T13:26:02","slug":"no-bidding-wars-this-year","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/no-bidding-wars-this-year\/","title":{"rendered":"No Bidding Wars This Year?"},"content":{"rendered":"

No Bidding Wars This Year?<\/h2>\n
\"No<\/a>

No Bidding Wars This Year?<\/p><\/div>\n

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Bidding wars are growing a lot less common, real estate pros report. By one measure, only 11.2% of offers written by Redfin real estate agents for their clients faced a bidding war in July\u2014down more than 45% from a year earlier. That is also the lowest rate since at least 2011.<\/p>\n

Bidding wars have been gradually lessening in the housing market since peaking in March 2018, where 59% of real estate professionals reported competition in offers. Since November 2018, the bidding war rate has not surpassed 15%, Redfin reports.<\/p>\n

\u201cMortgage rates have been mostly flat for the last month, and so has the home buyer competition, which was beginning a fast descent this time last year as mortgage rates were inching toward 5 percent,\u201d says Daryl Fairweather, Redfin\u2019s chief economist. \u201cOn a local level, it\u2019s noteworthy that some of 2018\u2019s fiercely competitive markets\u2014San Jose, Seattle, Los Angeles\u2014have seen their bidding war rates plummet the most year over year. Home prices in these expensive markets\u00a0have also been falling annually<\/a>.\u201d<\/p>\n

Overall, Fairweather predicts homebuying demand to strengthen in the second half of the year and the housing market to continue to stabilize. \u201cBut we may not see a big pop in bidding wars until early next year,\u201d she adds.<\/p>\n

While the numbers are down\u00a0from a year ago, the following markets saw the highest number of bidding wars in July, according to Redfin\u2019s index:<\/p>\n

    \n
  1. San Francisco: 35% (down from 72.4% a year ago)<\/li>\n
  2. San Diego: 21.3% (down from 61.5% a year ago)<\/li>\n
  3. Boston: 16.4% (down from 63.6% a year ago)<\/li>\n
  4. Los Angeles: 16% (down from 64.6% a year ago)<\/li>\n
  5. Philadelphia: 14.3% (down from 36.7% a year ago)<\/li>\n
  6. Denver: 14% (down from 48.8% a year ago)<\/li>\n
  7. Phoenix: 13.6% (down from 47.6% a year ago)<\/li>\n
  8. San Jose: 13.3% (down from 80% a year ago)<\/li>\n
  9. Sacramento, Calif.: 9.4% (down from 39.2% a year ago)<\/li>\n
  10. Washington, D.C.: 9.1% (down from 40.1% a year ago)<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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    \n
    Source:<\/div>\n
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    \u201c11% of Redfin Offers Faced Competition in July, the Lowest Rate Since at Least 2011<\/a>,\u201d Redfin (Aug. 7, 2019)<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    No Bidding Wars This Year? Bidding wars are growing a lot less common, real estate pros report. By one measure, only 11.2% of offers written by Redfin real estate agents for their clients faced a bidding war in July\u2014down more than 45% from a year earlier. That is also the lowest rate since at least … <\/p>\n

    Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-15840","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nNo Bidding Wars This Year? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"description\" content=\"No Bidding Wars This Year?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/no-bidding-wars-this-year\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/no-bidding-wars-this-year\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/no-bidding-wars-this-year\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"No Bidding Wars This Year?\",\"datePublished\":\"2019-08-12T13:26:00+00:00\",\"dateModified\":\"2019-08-12T13:26:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/no-bidding-wars-this-year\\\/\"},\"wordCount\":336,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/no-bidding-wars-this-year\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/08122019.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/no-bidding-wars-this-year\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/no-bidding-wars-this-year\\\/\",\"name\":\"No Bidding Wars This Year? 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