04/18/2022
Buyer Competition Intensifies to 5 Offers Per Home Sold. Working with a REALTOR® who knows local market conditions can help home buyers to make a good offer.
buyer competition intensified in February, according to the February 2022 REALTORS® Confidence Index Survey report, a monthly survey of REALTORS® about their residential transactions.
On average, there were nearly five offers for every home sold, a higher rate compared the prior month and one year ago (3.9 in the prior month, 4.1 one year ago). Respondents reported more than five offers on average in Massachusetts, Georgia, Texas, Colorado, Utah, Washington, and California.
48% of buyers offered above the list price, typically at $10,000
Typical buyer loses 2 home offers before succeeding 3rd try. According to REALTORS® who reported on the number of offers the buyer previously made (and lost), buyers typically made two offers before a successful third offer. However, 25% of buyers are successful in closing on a home on the first try.
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