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Redfin’s Red Flag: Homebuyer Bidding War Rate Has Collapsed To Lowest Level In 10 Years

Summary:
A new Redfin report specifies that only 10% of all offers written by Redfin agents on behalf of their homebuying clients faced a bidding war in October, down from 39% the same time last year and now at a 10-year low. Not even a plunge in mortgage rates this year could attract new buyers. https://www.zerohedge.com/personal-finance/national-bidding-war-rate-homes-collapses-decade-low

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A new Redfin report specifies that only 10% of all offers written by Redfin agents on behalf of their homebuying clients faced a bidding war in October, down from 39% the same time last year and now at a 10-year low. Not even a plunge in mortgage rates this year could attract new buyers.

https://www.zerohedge.com/personal-finance/national-bidding-war-rate-homes-collapses-decade-low

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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