A Record Share of Home Sellers Are Giving Concessions to Buyers
42% of home sales in the fourth quarter were accompanied by concessions, up from 31% a year earlier.
According to Redfin, home sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter—the highest share of any three-month period in Redfin’s records, which date back to July 2020. That’s up from just over 30% in both the previous quarter and the fourth quarter of 2021, and outpaces the prior 40.8% high from the three months ending July 2020, when the housing market nearly ground to a halt due to the onset of the coronavirus pandemic.