• Brokerage firm Redfin commissioned a survey of people shopping for homes and found that 70% of them had encountered competing offers for the houses they wanted to buy.
• The survey, done Aug. 16-22, found that compared with the second quarter of the year, fewer people thought this is a good time to buy (46% versus 56%) and more people thought it was a good time to sell (32% versus 13%).
• The survey also found that 31% of the respondents said they would drop out of a purchase if they encountered competition.

From the article:

A survey of 982 prospective buyers in 19 markets by tech-based brokerage Redfin shows an increasing conviction that home prices are on the rise, and a growing reluctance to get into multiple-offer situations. ...