Competitive home buying was reported down 53% compared to last year.

Redfin real estate reporting noted that only 1 in 8 written offers faced competition from other prospective home buyers in January.

Only around 13% of homes are getting multiple offers.

The National Association of Home Builders noted that home prices are just too high for buyers these days.

When they asked active buyers who hadn’t found a home in 3 or more months of searching, 49% said they couldn’t find one that was affordable.

Almost half of would-be buyers are struggling with prices, up from 42% a year earlier. This might explain that precipitous decline in bidding wars.