Realty World - Sierra PropertiesLicense #: 00319644

Realty World - Sierra PropertiesLicense #: 00319644

Multiple Offers Remain Prevalent This Spring

Home sellers are still fetching multiple offers on their properties and buyers continue to face competition, even as the housing market has shown some signs of slowing.

REALTORS® reported an average of nearly five offers on each home that sold in March, according to the March REALTORS® Confidence Index survey.

On average, half of buyers made two offers before being successful in their purchase by the third try, the survey shows.

Buyers are paying more than list price, too. Fifty-seven percent of buyers offered above the list price, which is up from 48% in February.

Source: “Multioffer Bidding Still Prevalent Despite Slowing Demand,” National Association of REALTORS® Economists’ Outlook blog (April 22, 2022)

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