The housing market, nationwide, may be less competitive than it was just a few months ago. In some parts of the U.S., though, buyers aren’t out of the woods when it comes to encountering competing offers when they put a bid on a for-sale property.
Also see: These 10 ‘hidden gem’ housing markets are poised for major growth in 2022, Realtors predict Salt Lake City, Utah, had the second highest rate of bidding wars at nearly 74%, followed by San Diego, Honolulu and Dallas. In general, these housing markets present more affordable options for buyers but retain many of the amenities one would enjoy in a major, and typically more costly, city. Over a third of people searching for homes in Richmond, Va., for instance, were from outside the metro area, with most of those migrants coming from the Washington, D.C., area roughly 100 miles away.
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