During the frenzied days of last year’s housing market, home buyer competition and bidding wars were common. Buyers often had to offer well above a seller’s asking price, but now that the market has softened overpaying for homes for sale might be a thing of the past. According to one recent analysis looking at 51 metro areas found the average close-to-list price ratio in August was 99 percent, meaning homes sold for 1 percent less than the asking price. That’s down from 101 percent in July and 104 percent in April. Home buyers shouldn’t expect to find any bargains when they start shopping for homes for sale, but they’re much less likely to have to offer more than a seller’s asking price than they were last year at this time.
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