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Seller concessions rose to 44.7% of U.S. home sales in August
Nearly three-quarters of deals in Atlanta involved concessions, and Redfin says the uptick aligns with the strongest buyer’s market since records began in 2013.
Seller concessions were part of 44.7% of U.S. home sales in August, up from 42.6% a year earlier and the highest share for that month since at least 2020, according to Redfin News.
Redfin’s analysis uses data submitted by buyers’ agents and defines concessions as seller-provided items that reduce a buyer’s total purchase cost, such as money toward repairs, closing costs, and mortgage-rate buydowns, while excluding list-price reductions.
The outlet attributes the rise to a more buyer-friendly market, citing that August was the strongest buyer’s market on record dating back to 2013, with more homes for sale and fewer buyers competing. Redfin Premier agent Amanda Peterson said buyers are increasingly asking for concessions across costs and perks, and noted that newly built homes are often paired with builder incentives.
Regionally, concessions were most common in Atlanta, where sellers provided them in 72.8% of homebuying deals in August, followed by Charlotte (67.9%), Phoenix (67.4%), Las Vegas (66.7%), and Raleigh (66.3%). Redfin also said concessions increased the most from a year earlier in Phoenix, Charlotte, and Riverside.