The real estate market slows down a bit when the weather gets so cold that no one wants to go out at night and look at houses. The inventory of homes on the market is tight right now, and it looks like it is going to be that way all year. When is is cold there are fewer offers on homes and less competition.
When the weather gets warmer again . . and we all hope that it will there will be an explosion of people out looking at houses and more multiple offer situations. One of the biggest mistakes I see buyers make is some will find a house they love and then wait and see if the price goes down. It is better to make an offer today at the lower price before someone else does. There may never be a price reduction by the sellers because buyers will make the price reduction for them.
Judging by the increase in the number of showing the listings I have are getting and the way the number of homes on the market is slowly decreasing I’ll go out on a limb and say February is going to be a wild and crazy month for multiple offers on homes and yes “bidding wars”.