May 14, 2025 - News
Homesellers offer perks
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45.3% of Austin homes sold in the first quarter of 2025 had a concession, up 0.8% from a year earlier, according to Redfin data.
The big picture: Nationally, over 44% of sellers are giving buyers concessions — nearly a record high, the real estate site reports.
- A concession is recorded when an agent reports a seller provided something that helped reduce the buyer's total cost of purchasing the home, per Redfin.
- That's money buyers can put toward repairs, closing costs and other expenses. It does not include situations in which the seller lowered the list price of their home.
Driving the news: More sellers nationwide have handed out such sweeteners as buyers face high home prices, elevated mortgage rates and economic uncertainty, per the report.
The intrigue: Many deals are falling through altogether.
- In Austin, 13.2% of pending sales fell out of contract in March of this year — compared to 11.3% in March 2024.