If you’ve been putting off buying a home because you’re worried about getting stuck in an exhausting bidding war, there’s good news. Competition isn’t gone entirely, but it has cooled dramatically from the frenzied market we saw just a couple of years ago.

A new survey reveals that in June 2025, only about 1 in 5 homes (20%) nationally received multiple offers. Compare that with nearly 1 in 3 (31%) last year and an even higher 39% in June 2023. That’s a sharp decline in just two years — and it tells us the housing market is shifting in a way that gives buyers more breathing room.

So, what does this mean for you if you’re thinking about buying or selling? Let’s break it down.

The End of the Frenzy

To really understand what’s happening today, it helps to remember how different things looked not that long ago. In 2021 and 2022, homes were being listed and sold in a matter of days, sometimes hours. Buyers routinely had to offer tens of thousands over asking just to be considered. It wasn’t uncommon to see 10 or more offers on a single home.

That environment pushed many buyers to extremes — waiving inspections, skipping appraisals, or writing emotional “love letters” to try to sway sellers. For many people, it was stressful enough to push them completely out of the market.

Fast forward to today, and the mood has changed. Yes, homes still sell. And yes, some markets are hotter than others. But buyers have more time, more leverage, and far less competition than they did in those hyper-competitive years.

Why Competition Has Dropped

The decline in bidding wars comes down to two major shifts:

1. Inventory Is Rising in Many Areas
   The number of homes for sale has increased in several markets. While supply is still historically low compared to long-term averages, it’s much better than it was during the height of the pandemic. More choices mean less pressure to fight over the same property.

2. Affordability Is Pressuring Demand
   Higher mortgage rates and elevated home prices have sidelined some buyers. That means fewer people are actively competing for each home that comes to market.

Together, these factors explain why multiple-offer situations have fallen from nearly 40% of sales two years ago to just 20% now.

It Still Depends on Where You’re Buying

National numbers only tell part of the story. Your experience will vary dramatically depending on where you live.

According to John Burns Research & Consulting (JBREC) and Keeping Current Matters (KCM), here’s how competition breaks down by region:

• Northeast: Roughly 1 in 3 homes (34%) are still receiving multiple offers, well above the national average.

• Southeast: Only 6% of homes are seeing more than one offer — a fraction of the frenzied pace of recent years.

• Other Regions: Most fall somewhere in between, with local market conditions dictating whether buyers are still battling over homes.

Why the big difference? In areas where inventory is still tight, buyers are being forced to compete. But in markets with more listings, sellers don’t have the same upper hand — and that means fewer bidding wars.

This is why working with a local real estate professional is critical. They can tell you exactly how competitive things are in your zip code, price range, or even neighborhood.

Sellers Are More Flexible Than Before

Here’s another sign of how much things have shifted: sellers are more willing to compromise.

According to Redfin, nearly half of today’s sellers are offering concessions, whether that’s covering part of a buyer’s closing costs, making repairs, or lowering their asking price.

This is a stark contrast to just a few years ago, when sellers held all the cards. Back then, buyers often had to accept homes “as-is” and sweeten their offers just to be noticed. Now, sellers know they may need to make their property stand out by being more flexible.

What This Means for Buyers

If you’ve been waiting for the right moment to get back into the market, this shift is in your favor. Here’s how you can take advantage:

1. You Have More Time to Decide
   Instead of rushing to put in an offer within hours, you now have days — sometimes weeks — to think carefully, compare options, and make a move when you’re confident.

2. You May Be Able to Negotiate
   With fewer buyers competing for each home, you can sometimes negotiate on price, closing costs, or repairs. That wasn’t possible during the frenzy.

3. You Don’t Have to Waive Protections
   Inspection and appraisal contingencies are back on the table. This gives you peace of mind and reduces your risk.

4. You Still Need to Be Ready
   While competition is lower, desirable homes in popular areas can still go quickly. Having your financing lined up and working with an experienced agent is still key.

What This Means for Sellers

If you’re a homeowner planning to sell, don’t panic. A cooler market doesn’t mean your home won’t sell — it just means you need a smarter strategy.

Here’s what you should know:

• Pricing Matters More Than Ever
  Gone are the days of listing far above market value and waiting for desperate buyers to bid up. Today’s buyers are cautious, and overpricing can lead to your home sitting unsold.

• Presentation Counts
  Staging, professional photography, and minor updates can help your home stand out when buyers have more options to choose from.

• Flexibility Can Seal the Deal
  Whether it’s offering to cover part of the closing costs or being open to repairs, small concessions can make your home more attractive in a competitive market.

A Balanced Market Isn’t a Bad Thing

For the past several years, the housing market has been defined by extremes — either too hot or too cold. What we’re seeing now is closer to balance.

Buyers have more negotiating power. Sellers are still benefiting from home values that remain historically high. And overall, the market is healthier than the chaotic days of bidding wars and panic buying.

Bottom Line

If fear of bidding wars has kept you from buying a home, the tide has turned. Nationally, competition is down to levels we haven’t seen in years. In many regions, sellers are even offering concessions — something almost unheard of during the boom.

For buyers, that means more choice, more time, and more negotiating power. For sellers, it means being realistic, flexible, and strategic is key.

The housing market is always local, so your best next step is to connect with a trusted real estate agent who can walk you through the current conditions in your area.

Whether you’re ready to buy or sell, this calmer, more balanced environment may be the opportunity you’ve been waiting for.