June 11th, 2013 3:24 PM by Teresa Molina
In some markets, home buyers are facing steep competition for the home they want to buy. For example, in May, nearly 70 percent of the offers written by Redfin real estate agents faced multiple offers. However, that is down slightly from 73.3 percent of offers with multiple bids in April, according to the real estate brokerage’s May 2013 Bidding War Report, which compiled stats from 2,000 offers written by its agents. As the number of home sales increases in many markets, competition is easing somewhat in many markets, according to the report.