Why it matters: The concession rate reflects that sellers are feeling the need to sweeten offers as they experience sluggish demand due to high prices, elevated mortgage rates and economic uncertainty.
The big picture: Nationally, over 44% of sellers offered concessions during the first quarter of the year, nearly a record high, according to Redfin data.
Only Seattle, Portland and Atlanta had larger rates than San Diego during that time.
Yes, but: San Diego's rate was actually higher during the first quarter of 2024 than this year.