Homebuyer Bidding War Rate Drops to 2021 Low in September

Closing Time Podcast

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Homebuyer Bidding War Rate Drops to 2021 Low in September

59% of home offers faced competition in September, the lowest level in nine months, amid a seasonal housing-market slowdown and an uptick in mortgage rates. That’s down from a revised rate of 60.8% in August and a peak of 74.3% in April. September marked the fifth-straight month of declines, putting the bidding-war rate on par with the level seen a year earlier (58.3%).

Home Prices Rose Twice as Fast in Car-Dependent Neighborhoods as Transit-Accessible Areas During the Pandemic

Home prices in car-dependent areas are up 33% since before the pandemic versus 16% for transit-accessible neighborhoods, reflecting the rise in remote work and the declining importance of proximity to public transportation.

It’s like a suburb tax..

Single Buyers Face Hurdles as Starter Homes Dwindle

The number of one-person households has doubled over the last four decades, but supply of entry-level housing is near a 50-year low.

Australian town is inundated with inquiries after offering free land to new residents

Quilpie, a town of 800 people, has received more than 250 inquiries for its housing program

The Quilpie Shire Council is offering a grant equivalent to $9,400 to anyone who buys land, builds a house there for less than $560,000 and lives in it for at least six months. Quarter-acre blocks of land sell for about $9,400, so the land is effectively free, although only Australias or permanent residents are eligible.