Has the Real Estate Marketplace Frenzy Peaked?
Bidding wars are still more common than a year ago, but economists are starting to notice the competition lessen somewhat. As more housing inventory gradually enters the market, buyers may face at least some relief from the intense bidding wars that have sent home prices surging in recent months.
Many housing experts say buyer fatigue may be setting in. After losing out on a bidding war or getting priced out, some home buyers may be waiting for the market to ease before jumping back in. The housing market traditionally starts to ease as it heads later into the summer and into the fall. But real estate has hardly followed any historical normalcy over the past year since the pandemic.
Source: National Association of Realtors, Realtor Magazine.
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