Story thread · 2 reports / 2 sources

Here’s where homebuyers are more likely to get concessions

deseret.com · 4hShare

Nearly 45% of home sellers in the U.S. provided concessions to buyers this summer, according to a new analysis by the online real estate brokerage Redfin. Even more house hunters bagged deals in Sun Belt markets like Atlanta, where nearly three-quarters of homebuyers were able to negotiate for closing costs, repairs and other perks, including mortgage rate buy-downs. How much more will mortgage rates go up? And roughly 15% of buyers also got a discounted price on their new home in addition to concessions, the analysis of data submitted by Redfin buyers’ agents across the country for the three months ending Aug. 31 showed. The 44.7% of buyers reporting having to make concessions to close a sale this year is the highest share for that three-month period at least since 2020. Then, just over 40% of buyers did the same. But the COVID-19 pandemic-era buying frenzy , which sparked bidding wars for homes at a time when mortgage rates were at record lows, slashed that number to just over 24% in

First report: Nearly half of US homebuyers are scoring seller perks — but NYC buyers are getting almost nothing — nypost.com, 1d