325 Lexington Avenue #31C
2 beds•2 baths•1,097 ft²
Condo in Midtown East
220 Park Avenue South
Furnished•1 bed•1 bath•750 ft²
Rental Unit in Flatiron
Listed by Owner
The Shephardаt 275 West 10th Street
Condo in West Village
A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back.
From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today's are a result of supply shortages.
Other markets have plenty of homes. Chicago, for example, has 9.4 months of supply, while New York's Long Island has 16.1 months of supply. Even in those markets, the number of houses for sale is edging down.