In January, 70 percent of the offers Redfin agents wrote experienced bidding wars. That’s the highest percentage since the national brokerage began tracking the stat in April 2020. In addition, Redfin data shows that in the four weeks through February 13, 57 percent of homes that went under contract did so within two weeks of listing. The housing market remains blazing hot as the spring selling season just begins to kick off. Mortgage rates will likely balance the market more than in the past two years, but time will tell exactly how much.