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What Is a Bidding War and What to Do When Caught in One - Sage Wilson Property Group-Austin Real Estate-Ausin Realtor

What Is a Bidding War and What to Do When Caught in One

Bidding wars greatly influenced home prices last year. They typically happen when there’s a lack of inventory because multiple buyers want the same property, so they compete against each other by making more attractive bids, which drives up home prices. Bidding wars have continued throughout the pandemic and are predicted to continue in a post-pandemic market in 2022. Home prices are slowly coming down,...

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