Bidding Wars Are Heating Up, Here’s How To Win Your Dream Home
Nationally, just 12% of offers written by Redfin, a real estate brokerage, faced a bidding war in June, down from 52% a year earlier.The supply of homes for sale, however, which had been up to over 6% annually in January, is now up by just 2.8%, according to realtor.com.
Housing demand is also rising, as mortgage rates sink."The first thing they have to do is look in a mirror and not out a window. They have to understand their comfortable max," said real estate agent Harrison Beacher. "We say 'what is your max capacity?' Be prepared mentally to go up to that max capacity. If it's under, that's gravy."