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Nationwide, 59.6% of home offers written by Redfin agents faced bidding wars in December 2021, the lowest share in 12 months. That’s down from a revised rate of 61.3% in November, but up from 54% in December 2020.

An offer is considered part of a bidding war if a Redfin agent reported that it received at least one competing bid. This data is subject to revision. Redfin’s bidding-war data goes back to April 2020. 

Competition has dipped in recent months partly because the housing market typically slows in the winter, with many buyers and sellers taking a break during the holidays. But while the bidding-war rate has fallen from its pandemic peak of 74.6% in April 2021, the housing market remains quite competitive as house hunters grapple with a record shortage of homes for sale.