# A few charts on the US housing market

By [Brandon Donnelly](https://brandondonnelly.com) · 2022-08-16

bidding-wars, charlie-bilello, days-on-market, housing, price-drops, redfin, us-housing-market

---

Here a three interesting charts about the US housing market from Redfin (via [Charlie Bilello's weekly newsletter](https://compoundadvisors.com/newsletter)).

Bidding wars, which are defined as an offer with at least one other competing bid, declined from nearly 70% of sales at the beginning of this year to about 44% as of July 2022.

![](https://storage.googleapis.com/papyrus_images/fd41f4642926e3e5dcf79b99a49dab1f.png)

Stale inventory, which is defined as a home sitting on the market for more than 30 days, is up 12.5% year-over-year. This is the highest jump since 2012, not counting the spike at the beginning of the pandemic (April 2020).

![](https://storage.googleapis.com/papyrus_images/a372e2ed426a55a1a57dcd78f1299551.png)

The number of US homes that cut their asking price over the last 4 weeks is now up to 7.8% as of the first week of August 2022. This is the highest percentage since 2015. The seasonality exhibited in this chart is also interesting.

![](https://storage.googleapis.com/papyrus_images/88515f56ab0905fb7ef8b54bb6b90075.png)

All of this said, the median sale price for a home in the US is still up 8.2% on a year-over-year basis. Though since June of this year, prices have fallen about 4.1%. I don't know about all of you, but I'd much rather be buying today than in January of this year.

---

*Originally published on [Brandon Donnelly](https://brandondonnelly.com/a-few-charts-on-the-us-housing-market)*