Realtor.com Says U.S. Bidding Wars End as Homes Sold in 4 Weeks Fetch 1.8% More
Updated
Updated · USA TODAY · Jun 13
Realtor.com Says U.S. Bidding Wars End as Homes Sold in 4 Weeks Fetch 1.8% More
2 articles · Updated · USA TODAY · Jun 13
Summary
Realtor.com said the long U.S. sellers’ market has ended, with buyers gaining leverage and overpriced listings now going stale instead of drawing bidding wars.
Four-week sales are the new sweet spot: homes closing by then sell for 1.8% more relative to asking price, while properties lingering 18 weeks typically sell for 1.3% below ask.
The shift is most visible in the $750,000-to-$2 million range, where homes that saw heavy bidding in 2022 are now finishing furthest below asking prices.
Condos are lagging even more, selling for 97.9% of ask versus 99.2% for single-family homes, while condo list prices sit 6% below March 2022 as ownership costs rise.
Agents say the post-pandemic market now rewards accurate pricing and strong presentation, though conditions still vary sharply by local market.