54% of Redfin offers faced competition as the supply of homes for sale and mortgage rates continued to fall in June. Single-family homes and townhouses were much more likely than condos to receive multiple bids.
The housing market closed out the month of June on somewhat uneven footing as pending sales pulled back slightly despite another record low for mortgage interest rates.
Momentum in high-end home-price growth changed course with the onset of the coronavirus pandemic, but the latest data shows luxury home prices are starting to rebound.