44% of Home Sellers Are Giving Concessions to Buyers—Just Shy of the Highest Level on Record
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Redfin reports more sellers are offering concessions as rising housing costs and economic uncertainty make buyers nervous, and housing supply hits a five-year high SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Home sellers gave concessions to buyers in 44.4% of U.S. home-sale transactions in the first quarter, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s up from 39.3% a year earlier, and is just shy of the 45.1% record high at the start of 2023.This is based on an analysis of data submitted by Redfin buyers’ agents across the country, covering rolling three-month periods from 2019 to present. A concession is recorded when an agent reports a seller provided something that helped reduce the buyer’s total cost of purchasing the home. That could include money toward repairs, closing costs and/or mortgage-rate buydowns. It does not include situations in which the seller lowered the list price of their home or lowered the price
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