MReport December 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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M R EP O RT | 51 O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T DATA AROUND THE U.S. Where Homebuyer Competition Is Heating Up Just 10% of offers written by Redfin agents faced a bidding war in October—down from 39% last year and now at a 10-year low. However, a few metro areas saw an unseasonal uptick in competition, notably in the Bay Area. According to Redfin, California was home to four of the top-five markets where bidding was most common. Here the top 15 metro areas by share of competition offers. Rate of Bidding Wars by Metro Area (October 2019) San Francisco 34.8% San Jose 20.5% San Diego 15.6% Philadelphia 13.8% Los Angeles 13.7% Phoenix 13.2% Raleigh 12.5% Boston 12.1% Washington, D.C 9.5% Houston 8.9% Seattle 8.8% Sacramento 8.2% Portland 8.0% New York 7.9% Austin 7.6% Source: Redfin Metro Area Share of Redfin Offers that Faced Competition

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