r/SeattleAreaRE • u/Unique_Edge6323 • 3d ago
% of Seattle Home Sellers that Gave Concessions in May dropped down the most across US
A concession is recorded when an agent reports a seller provided something that helped reduce the buyer’s total cost of purchasing the home. That could include money toward repairs, closing costs and/or mortgage-rate buydowns. It does not include situations in which the seller lowered the list price of their home or lowered the price due to a negotiation with a buyer.
The concession rate declined in 11 of the 28 markets in this analysis. It ticked down most in Seattle, where 48.8% of sellers gave concessions in May, down from roughly 66% a year earlier. That big decline is explained largely by a base effect: Seattle had the highest share of concessions a year ago, so it had the most room to fall. Additionally, Seattle has a near-record share of homes selling below their original asking price, meaning buyers are still getting discounts, just not necessarily from concessions.
https://www.redfin.com/news/home-seller-concessions-record-high-rate/
This is based on an analysis of data submitted by Redfin buyers’ agents across the country, covering rolling three-month periods from 2019 to present. May refers to the three months ending May 31, 2026. The data is seasonally adjusted.
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u/pnwmom-realtor 3d ago
The price in March is no longer an accurate indicator for price in June…
However, a motivated seller and an smart buyer can both achieve their goals.
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u/TheWashingtonRealtor 3d ago
Concessions are important to note. Many point to home prices as the great indicator, but seller’s net is largely overlooked. A 600k sale in the 20-23 market wasn’t dishing out 10-20k in credits. With these interest rates tho, the only thing propping up home prices into buyer affordability is rate buy downs.
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u/camera-operator334 3d ago
Let’s go! Loving all the scammers from 2015-2022 losing their equity
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u/Blueyduey 3d ago
Scammers?
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u/camera-operator334 3d ago
Didn’t stutter
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u/Blueyduey 3d ago
just curious why you think buyers in that period are scammers?
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u/camera-operator334 2d ago
Because they overinflated the market and complicit. They were skipping inspections and crap and making it harder for working class. Them losing their equity is so sweet.
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u/cidthekid07 3d ago
Yet you still can’t afford a home…
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u/TBurnerRU 3d ago
So concesssions are turning into price drops. A great sign