As a nation, bidding wars gained steam heading into the spring home-buying, with 61% of offers written by Redfin agents facing competition from other buyers in March.
While this is up 57% from February, it is down slightly from 63% in March 2014.
Then compare this to two of California’s, and the nation’s, hottest housing markets.
Both San Francisco and Ventura County not only fail to follow the trend but also are surging higher.
San Francisco’s bidding wars are nearly at 100%, rising from 88% last year to 94%, with 32% of homes selling over the asking price.
Read more: HousingWire San Francisco leads the nation in property bidding wars