General World News

Home seller concessions reach pre-pandemic levels

A new Redfin report found a record 41.9% of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. This represents the highest increase of any three-month period since July 2020 when Redfin started tracking this data. In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales.

The report also found that homeowners are selling homes for below the asking price. In Q4 of 2022, 22% of Redfin’s home sales included a concession and lower listing price, while 19% included both a concession details ⇒

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