Real Estate competition eases up in July
Market competition balances out after peaking in March
Competition for homes across the U.S. dropped in July, online real estate firm Redfin reported Thursday.
Last month, 63.3% of all offers obtained by Redfin agents landed in the middle of a bidding war, down from 68.6% in June and the peak of 75.7% in March.
Some of the more competitive markets -- including Orange County and San Diego, Calif. -- experienced steep drops in competition from June to July.
Redfin agents claim rising home prices, interest rates, inventory levels and buyer fatigue played a role in easing market competition during the summer months.