Also, how many of those “multiple offers” are being submitted by a fairly small pool of well-qualified buyers. Of the bubble-sitters we know (including ourselves), potential buyers have multiple bids out at any given time. Today’s buyers are definitely smarter, as I see few of them wildly overbidding for these homes. They are much more willing to walk away from a transaction, and while a seller might see many offers, a lot of them are coming in well below list price.
