BiggerPockets Daily
A Stat That Shows How Soft the Housing Market Has Become
Apr 24, 2025
The housing market is bending, signaling a shift in power to buyers. Seller concessions are on the rise, with nearly 20% of homes selling below asking price. Recent data reveals a trend of falling prices and diminishing buyer demand. Additionally, 13% of pending sales are collapsing, prompting questions about the reasons behind last-minute cancellations. This insightful analysis offers vital strategies for anyone navigating today’s unpredictable real estate landscape.
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Quick takeaways
- The rise in seller concessions, now at 44.4%, indicates a shift towards a buyer's market, reflecting increased challenges for sellers.
- With 13% of pending sales falling through in March, various factors are contributing to heightened last-minute cancellations in the housing market.
Deep dives
Concessions Indicate a Buyer’s Market
A significant current trend in the real estate market is the rising number of home sales involving seller concessions, which reached 44.4% in Q1. This figure is an increase from 39.3% the previous year, reflecting a shift towards a buyer's market across many regions. Concessions include offerings like financial assistance for repairs, covering closing costs, or reducing mortgage rates to entice potential buyers. High concession rates often indicate that sellers are experiencing challenges in securing offers and may need to lower their expectations to successfully close sales.
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