Thanks to an inventory shortage, the market has been tough for buyers in recent years. Many buyers would find themselves in bidding wars for in-demand properties, driving up the prices—and often driving them right out of their price range.
But it looks like that’s changing—and it spells good news for potential buyers.
According to recent data from Redfin, in October, just 10 percent of offers written by the brokerage faced competition from other buyers. That’s down from 39 percent at this time last year—and the lowest point in a decade.
So, what does that mean for you? It seems that the competition for property isn’t quite as fierce today as it’s been in recent months and years—so if you’re thinking about buying a home, now is a great time to make a move.