More Than Half of Homes Selling Above Asking Price in Newark and Bay Area
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 23 2026
0mins
Source: Newsfilter
- Sales Trend: According to a Redfin report, over half (57.6%) of homes sold in May in Newark, San Francisco, San Jose, and Nassau County went for above asking price, indicating fierce competition among buyers and driving up prices in these areas.
- Market Competitiveness: Newark leads the U.S. with a 57.6% rate of homes selling above asking price, followed closely by San Francisco at 57.3% and San Jose at 53.2%, highlighting strong demand in these real estate markets that attracts numerous buyers.
- East Coast vs. Bay Area: While only 25.8% of homes nationwide sold above asking price in May, the East Coast and Bay Area bucked this trend, demonstrating that buyers in these regions remain competitive despite high prices and mortgage rates.
- Buyer Negotiation Power: In Florida, fewer than 10% of homes sold above asking price, reflecting a strong buyer's market where buyers can negotiate price reductions and seller concessions, further influencing overall market dynamics.
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Analyst Views on RKT
Wall Street analysts forecast RKT stock price to rise
11 Analyst Rating
5 Buy
6 Hold
0 Sell
Moderate Buy
Current: 15.550
Low
18.00
Averages
22.18
High
25.00
Current: 15.550
Low
18.00
Averages
22.18
High
25.00
About RKT
Rocket Companies, Inc. operates a fintech platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Redfin, Rocket Close, Rocket Money and Rocket Loans. Its suite of products empowers its clients across home search, mortgage finance and servicing, title and closing, financial wellness and personal loans. It operates in two segments: Direct to Consumer and Partner Network. In the Direct to Consumer segment, clients have the ability to interact with Rocket Mortgage digitally and/or with the Company's mortgage bankers. It markets to potential clients in this segment through various brand campaigns and performance marketing channels. It provides client service and leverages its brand to strengthen its wholesale relationships, through Rocket Pro, as well as enterprise partnerships, both driving growth in its Partner Network segment. Its enterprise partnerships include financial institutions and consumer-focused companies that value its client experience.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Debt Refinancing Impact: Rocket raised $1.5 billion this month for refinancing existing debt, which, while extending repayment timelines, also means incurring higher interest costs, highlighting the impact of rising borrowing costs on its business.
- Retail Trader Sentiment: On Stocktwits, retail sentiment around Rocket remains bullish, with a 633% surge in message volume within 24 hours, indicating optimistic investor expectations for its future performance, despite the stock's decline of over 19% year-to-date.
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