Return of The Bidding War, But Only For Certain States


Posted To: MND NewsWire

The phenomenon is very uneven geographically, but CoreLogic says that one factor behind the sustained pace of home price appreciation is the return of bidding wars . The company’s analysis is limited in that it was done on the city level in markets where there were a hundred or more closed home sale transactions in the second quarter – criteria that is in itself a bit self-defining. They also included properties where the sale price was bid up by $5,000 or more above the list. The cities that emerged on top for bidding wars were no surprise; they were mostly in the West and primarily in California, but some of CoreLogic’s findings were still interesting. Seventeen of the top 30 cities where multiple offers are most frequently pushing home sale prices above list are in California, and eight…(read more)

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