A Shift in House Hunting: 'It's a Buyer's Market'... lead by Texas, Florida, Tennessee and Nevada, lower than asking [View all]

A Shift in House Hunting: 'It's a Buyer's Market'
Sellers outnumber buyers, and it's resulting in lower-than-asking prices

Homebuyers who haven't walked away from the market are finally getting something in return for their persistence: leverage. A Redfin analysis finds 62% of buyers last year paid less than asking, the highest share since 2019, with average discounts near 8%—a level not seen since 2012, reports the Wall Street Journal. Sellers are also tossing in concessions, from help with closing costs to mortgage-rate buydowns, as the market shifts away from the frenzied, seller-dominated days of 2020-2022.

Austin leads the way, with 7,555 buyers and 17,259 sellers, followed by Fort Lauderdale, Nashville, Miami, San Antonio, West Palm Beach, Houston, Las Vegas, Dallas, and Tampa

https://www.newser.com/story/383062/a-welcome-shift-for-house-hunters-its-a-buyers-market.html