BiggerPockets Daily
Bidding Wars Return in the Hottest Spring Markets
Apr 3, 2025
Homebuyers are making waves with fierce bidding wars, especially in high-demand areas like San Francisco and San Jose. More than half of homes are selling above asking price, signaling a surprising market heat. While urban areas rebound, cities like San Diego and Austin are seeing the opposite trend. The podcast also explores how rising mortgage rates are empowering buyers and what that means for the evolving landscape in states like Florida and Texas. It's a fascinating look at how inventory changes and pricing strategies are reshaping homebuying dynamics!
13:10
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- High competition in select urban markets like San Francisco and New York is driving over half of homes to sell above asking price.
- Most U.S. regions are experiencing a buyer's market with rising inventory, leading to increased opportunities for substantial discounts on properties.
Deep dives
Diverging Housing Markets
Recent trends reveal a stark divide in U.S. housing markets, with some regions experiencing intense bidding wars while others face buyers walking away with significant discounts. Specifically, only eight out of the 50 largest U.S. metros reported increases in homes selling above asking price, predominantly in areas like San Francisco and New York City, which previously suffered during the pandemic. For instance, San Francisco saw an impressive 57.2% of homes sell above list price, demonstrating a marked recovery from the pandemic's effects. This rebound is largely fueled by urban migration back to these cities as they slowly regain their appeal and economic vitality.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
