Friday, 7 October 2022 | The Latest Buzz for the Appraisal Industry

Homebuyer Competition Continues to Decrease, Redfin Reports

Nationwide, 60.7% of home offers written by Redfin agents encountered competition on a seasonally adjusted basis in April, the lowest level since March 2021, according to a new report from Redfin. That’s down from a revised rate of 63.4% a month earlier and 67.4% a year earlier, and marks the second-consecutive monthly decline.

The housing market has softened in recent weeks because mortgage rates have surged to their highest level in more than a

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