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Bidding wars finally slowed in March

Location
Seattle, Portland, San Francisco
Publish Date
2022/05/04

65% of home offers faced competition in March, ↓ from 66.7% in February. Rising mortgage rates and home prices are prompting some Americans to back out or put their buying plans on hold. San Jose, CA had the highest bidding-war rate in March with 79.8% of offers facing competition. Meanwhile, fewer homebuyers requested services in SF, LA, Washington, D.C., Boston, and Seattle at the beginning of 2022. Nashville and Honolulu saw the lowest bidding-war rates of all the metro areas analyzed in March.

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