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The first quarter of 2025 has shown signs that we may be nearing a buyer's market. According to recent research from Redfin, home sellers are offering concessions to buyers at near record high rates. In fact, 44.4% of U.S. home-sale transactions in the first quarter of 2025 involved seller concessions, up from 39.3% a year earlier.
This trend highlights how the current market conditions, with high home prices and elevated mortgage rates, are encouraging sellers to offer more incentives. Buyers may have an opportunity to negotiate better deals through concessions, or even find homes with lower listing prices.
As housing prices are fluctuating in some areas, sellers are beginning to lower their asking prices to avoid offering too many concessions. Redfin's report also highlighted that in the first quarter, 21.5% of home sales saw both a price cut and a seller concession, signaling a potential shift in the market favorable for buyers.
Ready to start the hunt for your next home? Turn to the experts at National Iron Bank to get pre-approved and be prepared to act fast.
Excerpt from Scotsman Guide
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