Is the housing market frenzy over? Buyer competition drops to lowest level in 2 years

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Last month, bidding wars became less common and homebuyer competition has now dropped to its lowest level since 2020, before COVID-19 sent the national market into upheaval.

 

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Maybe the administration keeping interest rates at all time record lows when supply of labor and building materials were at all time record lows was not such a good idea? Economics 101

Depends on where you live. Housing markets are different.

It was about time

Waiting to see if my property taxes drop /s 🙄

Well when you build homes and apartments on every empty 50’ plot of land faster than people can move to the state, yea, competition is going to slow. Just like our water supply.

I hope prices continue to drop so young families can afford to buy houses again.

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