45% of sellers offered concessions coming into 2023: Redfin

After several years of bidding wars and waived contingencies, the scales are starting to tip in homebuyers’ favor, according to Redfin’s latest market report published on Wednesday. During the three months ending Feb. 28, 45.5 percent of homesellers offered to cover repairs, closing costs and mortgage rate buy-downs alongside other concessions. That’s a 14.4 percent increase from last year and the highest concession rate since June 2020.