{"id":4319,"date":"2022-08-31T05:00:25","date_gmt":"2022-08-31T10:00:25","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/buyers-you-may-face-less-competition-as-bidding-wars-ease\/"},"modified":"2022-08-31T05:00:25","modified_gmt":"2022-08-31T10:00:25","slug":"buyers-you-may-face-less-competition-as-bidding-wars-ease","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/buyers-you-may-face-less-competition-as-bidding-wars-ease\/","title":{"rendered":"Buyers: You May Face Less Competition as Bidding Wars Ease"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/30093706\/20220831-KCM-Share-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Buyers: You May Face Less Competition as Bidding Wars Ease | Simplifying The Market\" loading=\"lazy\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>One of the top stories in recent real estate headlines was the intensity and frequency of bidding wars. With so many buyers looking to purchase a home and so few of them available for sale, fiercely competitive bidding wars became the norm during the pandemic \u2013 and it drove <a href=\"https:\/\/www.simplifyingthemarket.com\/2022\/08\/11\/what-does-the-rest-of-the-year-hold-for-home-prices\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener\">home prices<\/a> up. If you tried to buy a house over the past two years, you probably experienced this firsthand and may have been outbid on several homes along the way.<span id=\"more-47084\"><\/span><\/p>\n<p><strong>But here\u2019s the news you\u2019ve been waiting for: data shows clear signs bidding wars are easing this year.<\/strong><\/p>\n<p>According to the <em>National Association of Realtors<\/em> (NAR), the average <a href=\"https:\/\/cdn.nar.realtor\/sites\/default\/files\/documents\/2022-07-realtors-confidence-index-08-18-2022.pdf\" target=\"_blank\" rel=\"nofollow noopener\">number of offers<\/a> on recently sold homes has declined considerably over the past few months (<em>see graph below<\/em>):<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/30093704\/20220831-MEM-Eng.png?ssl=1\" target=\"_blank\" rel=\"nofollow noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-47085\" src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/30093704\/20220831-MEM-Eng.png?resize=650%2C488&#038;ssl=1\" alt=\"Buyers: You May Face Less Competition as Bidding Wars Ease | Simplifying The Market\" width=\"650\" height=\"488\" \/><\/a><\/p>\n<p>The graph shows homes were seeing a high of around five offers earlier this year. But the latest data shows that average was down to just shy of three offers per recently sold home. This shift is happening largely because rising mortgage rates moderated buyer demand and slowed home sales, resulting in a growing <a href=\"https:\/\/www.simplifyingthemarket.com\/2022\/08\/25\/why-you-may-want-to-start-your-home-search-today\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener\">supply<\/a> of homes on the market. Essentially, more choices for buyers.<\/p>\n<h4><strong>What This Means for You<\/strong><\/h4>\n<p>If you put your home search on pause because you were outbid last year or because you didn\u2019t want to deal with the peak intensity of bidding wars, you can breathe a welcome sigh of relief. While it\u2019s still a <a href=\"https:\/\/www.simplifyingthemarket.com\/2022\/08\/04\/why-its-still-a-sellers-market\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener\">sellers\u2019 market<\/a>, an uptick in inventory gives you a window of opportunity to jump back in. You may still be competing with some buyers, but it likely won\u2019t be anything like it was just a few short months ago.<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>If you put your plans on pause because of intense bidding wars in recent years, it may be time to kick off your home search. Today, bidding wars are easing and that may mean less competition for you as a buyer. If you\u2019re serious about buying a home or making a move, let\u2019s connect to get started today.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the top stories in recent real estate headlines was the intensity and frequency of bidding wars. With so many buyers looking to purchase a home and so few of them available for sale, fiercely competitive bidding wars became the norm during the pandemic \u2013 and it drove home prices up. If you tried [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4320,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-4319","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Buyers: You May Face Less Competition as Bidding Wars Ease&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/buyers-you-may-face-less-competition-as-bidding-wars-ease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buyers: You May Face Less Competition as Bidding Wars Ease&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"One of the top stories in recent real estate headlines was the intensity and frequency of bidding wars. With so many buyers looking to purchase a home and so few of them available for sale, fiercely competitive bidding wars became the norm during the pandemic \u2013 and it drove home prices up. 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