🏡 Why Buyer Competition Has Eased in Today’s Housing Market—and Where the Opportunities Are

For the past few years, one of the biggest fears buyers had when shopping for a home was the intense bidding wars. Multiple offers, skyrocketing prices, and high-stress negotiations made the process overwhelming. But today’s market looks different.

📉 National Competition Has Declined

As of June 2025, only about 20% of homes nationwide received multiple offers. That’s a steep drop from 31% just a year ago, and nearly half the rate of 2023 (39%). This shift means less pressure, fewer bidding wars, and more breathing room for buyers to make thoughtful decisions.

📍 Regional Differences Still Matter

Competition isn’t uniform. In the Northeast, around 34% of homes still see multiple offers, while in the Southeast, the rate is as low as 6%. The main factor? Inventory. Areas with tight supply still generate competition, while markets with more listings give buyers greater choice and negotiating power.

In the Chicago suburbs, especially in top school districts and neighborhoods favored by Korean families, inventory is still limited. That means desirable homes can sell quickly—even while national competition is easing.

🤝 More Seller Concessions

Another shift is that sellers are more willing to compromise. According to Redfin, nearly half of sellers are now offering concessions, such as covering closing costs or lowering prices—something rare during the peak of competition. This gives buyers stronger negotiating leverage.

✅ Bottom Line

If fear of bidding wars has kept you from entering the market, now may be the time to take another look. Competition is down nationally, and in many regions buyers hold more power than in recent years. Still, in hot suburban areas like parts of Chicago, it remains a seller’s market—so local expertise and strategy are essential.

📍 Chicago Realty – Hans Chul📱 773-717-2227📧 ChicagoBDB@gmail.com