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SEATTLE, Aug. 16, 2021 /PRNewswire/ — (NASDAQ: RDFN) —In July, 60.1% of home offers written by Redfin agents faced competition, down from a revised rate of 66.5% in June and a pandemic peak of 74.1% in April, according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage While July’s bidding-war rate was the lowest since January, it was still higher than the 57.9% bidding-war rate we saw in July 2020, when the housing market was recovering following a shutdown caused by pandemic restrictions. Homebuying conditions have been improving this summer following months of fierce competition and soaring prices that were driven by an intensifying housing shortage, a pandemic moving spree made possible by remote work and historically low mortgage rates.
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