Buyers May Benefit From an Auction Mindset

Buyers who head into the housing market believing they should get a home for less than the listing price may be very disappointed. Instead, they may consider that asking prices have become more like the start of an auction and be ready to start bidding.
For every listing, there is an average of 5.1 offers, according to the National Association of REALTORS®. What’s more, half of homes are being sold above list price
Additionally, “Due to the low supply of houses for sale, many homes are now being offered in an auction-like atmosphere in which the highest bidder wins the home,” an article at Keeping Current Matters notes
Continue…https://magazine.realtor/daily-news/2021/06/09/buyers-may-benefit-from-an-auction-mindset