Homebuyers are scoring deals — but prices remain high
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The average discount for U.S. homes that sold below their original asking price last year was nearly 8% — the largest such gap since 2012, according to a Redfin report.
Why it matters: Still-high mortgage rates and home prices have sidelined many shoppers. But those who remain in the market are scoring the biggest deals in years.
State of play: Roughly 62% of homebuyers last year paid less than the listing price, the highest share since 2019, Redfin data shows.
The big picture: It's a homebuyer's market for people who can afford it.
- There were a record 47% more home sellers nationally than buyers in December, per Redfin, giving house hunters more options and negotiating power.
Reality check: Homes still fetch historically high prices.
- In 2025, the national median sale price for an existing single-family home was $419,300, up around 2% from 2024, according to the National Association of Realtors.
- January sales plunged as elevated prices, economic jitters and cold weather weighed on buyers.
Between the lines: Shoppers have the most leverage in parts of the South, especially Florida and Texas, largely because years of homebuilding have boosted supply.
- In Florida metros West Palm Beach, Fort Lauderdale and Miami, the average homebuyer who paid below asking price saw a roughly 10% discount.
The other side: Deals are harder to find in the Bay Area. San Francisco homebuyers paid nearly 4% above asking price, on average.
- In only three other major metros did shoppers typically pay a premium: Newark, New Jersey (3%) and California's San Jose (2%) and Oakland (1%).
What they're saying: "Homebuyers in 2026 shouldn't write off homes that are slightly above their budget because there's a good chance they'll get some sort of concession from the seller, be it a price cut, money toward closing costs or funds for repairs," said Redfin senior economist Asad Khan in the report.
- That's a big reversal from the pandemic, when sellers didn't have to offer sweeteners because bidding wars sent prices soaring far above asking in many places.
What we're watching: Not all sellers have adjusted to the fact that demand has fallen since then, according to Redfin.
- Some would rather take their listings off the market than slash prices.
