U.S. Housing Market Fuels Bidding Wars, Driving Prices Even Higher

Would-be homeowners are increasingly opting to pay sellers more than their asking price in hopes of edging out rival buyers as heightened competition for few homes on the market fuels bidding wars.

About 52% of U.S. homes sold in January fetched more than their list price, up from 40.2% a year earlier, according to data from Redfin, a national real estate brokerage.

It was the greatest share of homes sold above asking price ever recorded by Redfin, in data going back to February 2012.

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