Are Bidding Wars Still a Thing or Are Buyers Finally in Control?

WWH
1 day ago
3 min read

If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go.

While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025.

That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%). This trend means you should face less competition when you buy. That gives you more time to make decisions and the ability to negotiate price or terms.

It Still Depends on Where You’re Buying

Of course, national trends don’t tell the full story. Local dynamics matter, a lot.

This second graph uses survey data from John Burns Research & Consulting (JBREC) and Keeping Current Matters (KCM) to break things down by region to prove just how true that is. It shows, while the share of homes getting multiple offers has dropped pretty much everywhere, some areas are still seeing more offers than others.

In the Northeast, 34% of homes (roughly 1 in 3) are still receiving multiple offers. That’s more than the national average. But in the Southeast, that number drops to just 6%.

What’s behind the difference? In general, the areas still seeing bidding wars tend to have lower-than-normal inventory. That imbalance between buyers and available homes keeps pressure on prices and competition. But markets with more listings are seeing conditions cool – and that means fewer bidding wars.

Sellers Are More Flexible Than You Might Think

Here’s another shift to show you just how much things have changed. According to a Redfin report, almost half of sellers are offering concessions, like covering their buyer’s closing costs or dropping the price.

This flexibility can be a game-changer for buyers. Instead of feeling like you’re in a high-stakes poker game where everyone is trying to outbid each other, you might find that sellers are more willing to negotiate than you expected.

This shift in the market means that buyers can take a breath and approach the home-buying process with a bit more confidence.

Understanding the Market Dynamics

To really grasp whether bidding wars are still a concern, it’s essential to understand the underlying market dynamics.

The real estate market is influenced by various factors, including interest rates, economic conditions, and local inventory levels. When interest rates are low, more buyers enter the market, which can lead to increased competition and, yes, bidding wars.

However, as interest rates rise or inventory levels increase, the pressure on buyers can ease. This is what we’re seeing now. With more homes available, buyers have more options, and sellers are feeling the need to be more accommodating.

The Importance of Timing

Timing can also play a crucial role in whether you’ll encounter a bidding war.

If you’re looking to buy during peak seasons, like spring and summer, you might find yourself in a more competitive environment. Conversely, shopping during the off-peak months, such as late fall or winter, can lead to less competition and more favorable terms.

Understanding the seasonal trends in your local market can help you strategize your home-buying journey effectively.

Tips for Navigating the Current Market

So, what can you do to navigate the current market effectively? Here are some practical tips:

Do Your Research: Stay informed about local market trends. Knowing how many homes are available and how quickly they’re selling can give you an edge.
Get Pre-Approved: Having a mortgage pre-approval can make you a more attractive buyer. It shows sellers that you’re serious and financially capable.
Be Flexible: If you can be flexible with your closing date or other terms, you may find sellers are more willing to negotiate.
Work with a Local Agent: A knowledgeable real estate agent can provide insights into your local market and help you craft competitive offers.
Consider Making a Strong Offer: If you find a home you love, don’t be afraid to make a strong offer. In a less competitive market, this can still be effective without the need for bidding wars.

Conclusion

In conclusion, while bidding wars are not entirely a thing of the past, the landscape is changing. With fewer homes receiving multiple offers and sellers becoming more flexible, buyers are finding themselves in a more favorable position.

By understanding the local market dynamics, timing your purchase wisely, and being prepared to negotiate, you can navigate the home-buying process with confidence.

So, if you’ve been worried about entering a bidding war, take a deep breath. The market is shifting, and you might just find that you’re in control after all.