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October 9, 2025

Winning a bidding war isn't always a win, research on 14M home sales shows

By SOON HYEOK CHOI
Rochester Institute of Technology

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People who paid more than the asking price for their homes were found to be more likely to default on their mortgages.

(THE CONVERSATION) In today's hot housing market, winning a bidding war can feel like a triumph. But my research shows it often comes with a catch: Homebuyers who win bidding wars tend to experience a “winner's curse,” systematically overpaying for their new homes.


 
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