Fewer Prospective Homeowners to Clash Over Homes

first_img Demand Propels Home Prices Upward 2 days ago Competition Home Prices Redfin 2014-02-20 Krista Franks Brock Sign up for DS News Daily in Daily Dose, Featured, Headlines, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. About Author: Krista Franks Brock Previous: Law Firm Acquisition First Sign of Changes in Default Servicing? Next: DS News Webcast: Friday 2/21/2014 Share Save Fewer Prospective Homeowners to Clash Over Homes The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Fewer Prospective Homeowners to Clash Over Homes Servicers Navigate the Post-Pandemic World 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post February 20, 2014 675 Views Related Articles Subscribe Tagged with: Competition Home Prices Redfin Home buying competition rose over the month of January but was down from last January, according to national real estate brokerage Redfin, which took the year-over-year decline as a sign that low inventory and rising prices are thwarting demand in the housing market.About 58 percent of home offers by Redfin agents encountered a competing offer in January compared to nearly 53 percent in December. Competition increased in all 22 markets in which Redfin has a presence. However, the rate is still down significantly from the 70 percent recorded in January 2013.While Redfin anticipates competition will be “a prominent fixture” in the housing market in the short-run, the brokerage expects declining demand and rising inventory to keep competition at bay later in the year. Rising prices prevent many home shoppers from feeling that they are “getting a deal,” according to Redfin, and low inventory is discouraging to some shoppers as well.The average home sold in January sold for 0.9 percent lower than the asking price, according to Redfin. Just two of the 22 markets observed reported the average home selling for more than the asking price: San Jose, California, and San Francisco, California, where about half of homes sold for more than the asking price. The average home in San Jose sold for 2.9 percent above its asking price, while the average home in San Francisco sold for 2.1 percent above its asking price. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img

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