In Reversal, Home Sellers Now Desperate, Offering Big Concessions

A sign is displayed in front of a new housing development in Burke, Virginia, on April 26, 2022. - Sales of new homes fell in the US last month, government data said on April 26, as high prices continued to crimp demand. Sales dropped to an annualized rate of 763,000, seasonally adjusted, less than analysts anticipated and 8.6 percent below the rate in February, which was revised sharply upwards, the Commerce Department reported. (Photo by Stefani Reynolds / AFP) (Photo by STEFANI REYNOLDS/AFP via Getty Images)

At a glance

  • Home sellers are doing way more to entice homebuyers these days, according to data from Redfin published Thursday morning.
  • Details: 42% of sellers offered at least one concession to buyers, often in the form of cash credit for things like repairs, closing costs, or mortgage rate buydowns.

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