You might be able to let go of some of your concerns if you’re still afraid that you’ll have to deal with a bidding war when you purchase a home.
Multiple-offer situations are no longer as prevalent as they once were, but they haven’t completely vanished. Actually, according to a recent survey, agents nationwide reported that in June 2025, only one in five homes (20%) received multiple offers.
That is significantly lower than in June 2023 (39%) and down from almost one in three (31%) just a year ago (see graph below):
As a result of this trend, there should be less competition for your purchase. This allows you to negotiate terms or price and gives you more time to make decisions.
It Still Depends on Where You’re Buying
Naturally, national trends don’t provide a complete picture. Local dynamics are very important. This second graph illustrates how true that is by breaking things down by region using survey data from Keeping Current Matters (KCM) and John Burns Research & Consulting (JBREC). It demonstrates that although the percentage of homes receiving multiple offers has decreased almost everywhere, some regions continue to receive more offers than others:
Approximately one in three homes in the Northeast, or 34% of all homes, are still getting multiple offers. That exceeds the average for the country. However, that figure falls to just 6% in the Southeast.
Why is there a difference? Areas where bidding wars are still going on typically have lower-than-average inventory. Pressure on prices and competition is maintained by the mismatch between buyers and available homes. However, conditions are cooling in markets with more listings, which means there are fewer bidding wars.
Sellers Are More Flexible Than You Might Think
To demonstrate how much has changed, here is another shift. In order to sell their home, nearly half of sellers are making concessions, such as paying the closing costs for the buyer or lowering their asking price, according to a Redfin report.
That is a blatant indication that the fiercely competitive market of a few years ago is no longer the same. Sellers hardly ever made concessions back then. Additionally, in an effort to make their offer stand out, buyers frequently skipped their appraisal or inspection. Things are different now.
Again, though, the frequency of this will depend on where you want to make your purchase. And for that reason, you need the knowledge of a local agent.
Conclusion
It might be time to look again if worries about bidding wars have been preventing you from moving forward. Competition is down on a national level. It’s down a lot in certain markets. Additionally, buyers now have more power and flexibility than they have in a long time because more sellers are making concessions.
FAQs
1. Are bidding wars a thing of the past in 2025?
Bidding wars have not completely disappeared, but they are less common than they were at the height of the pandemic housing boom. They mostly appear on reasonably priced, move-in ready homes in the most sought-after neighborhoods and are now extremely selective. Bidding wars are still possible, but they are no longer the standard expectation for every listing because the market has changed from a widespread frenzy to a more localized phenomenon.
2. How can I compete in a housing market without waiving contingencies?
You have more power to safeguard your investment now that the market is cooling. Focus on other competitive levers rather than sacrificing crucial contingencies like inspections and appraisals:
- Stronger Earnest Money Deposit: A larger deposit shows serious commitment.
- Flexible Closing Timeline: Accommodating the seller’s move-out date can be a huge advantage.
- Pre-Approval, Not Pre-Qualification: A solid, verified pre-approval from a reputable lender makes your offer more credible.
- Personal Letter: A sincere letter can sometimes make an emotional connection with the seller.
3. As a seller, what should I do if my home doesn’t get multiple offers?
Do not panic. Evaluating your listing price objectively is the first step. The starting price is more important than ever in the current market. While overpriced homes remain on the market, correctly priced homes from the beginning continue to attract a lot of interest. Instead of waiting weeks for offers that might not materialize, work with your agent to examine recent comparable sales and be ready to make a calculated price adjustment.
4. Is now a better time to be a home buyer?
Yes, compared to the previous few years, the market dynamics have drastically changed in favor of buyers. You are under less pressure to give up your contractual rights, have more negotiating leverage, and have more time to consider your options. The reduction in intense competition allows you to shop more carefully and make offers that include common contingencies to safeguard your financial interests, even though mortgage rates are still a factor.
5. With higher mortgage rates, is buying a home even worth it right now?
Although this is a personal financial choice, it’s important to consider your housing needs and the long-term investment. Purchasing a home enables you to accumulate equity over time rather than paying a landlord, even though monthly payments are greater than they were with 3% rates. Additionally, you can refinance and reduce your monthly payment if rates drop in the future. The best time to purchase is not determined by precisely timing the market, but rather by when it makes financial sense for your circumstances.