More Home Sellers Offer Buyers Concessions

Dated: January 18 2023

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When the housing market was at its peak, home sellers had the advantage. It wasn't uncommon for a homeowner with an attractive listing to receive multiple offers from interested buyers. It was a sellers' market.

 

These days, things have changed. Higher mortgage rates and more challenging affordability conditions mean home sellers work harder to entice potential buyers. It's leading more of them to offer buyers concessions. But what are concessions? Well, they can be many things, including mortgage rate buy-downs and covering closing costs or the cost of home repairs. They're becoming more common as the market finds a better balance. In fact, according to one recent analysis, 42 percent of home sellers who sold a home during the final three months of 2022 gave buyers concessions. That's a high number and further proof that the housing market is beginning to tilt back toward buyers after many years of favoring sellers.

 

The MikeDowner.com website is the most comprehensive online source for Southwest Florida real estate information and services. Whether you are looking for the latest sales, trends, or homes for sale in Collier County and Lee County in Florida, Mike Downer and Coldwell Banker Realty have it all at your fingertips. Browse information regarding new listings, price changes, short sales, foreclosures, new construction, investment property, land sales, or commercial locations throughout Southwest Florida at www.MikeDowner.com or call Mike at 239-722-6453.

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Michael Downer

Your Luxury REALTOR®, Trusted Advisor — Quintessential Naples Team at Downing-Frye Realty®Michael "Mike" Downer is the REALTOR® you want in your corner when buying or selling real es....

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