The world's largest real estate franchise by agent count
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—down more than 45% from a year earlier. That is also the lowest rate since at least 2011. 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.