Sellers Try To Bait Buyers With Concessions

As buyers shy away from a pricey market, more sellers are hoping concessions will help them move their house. A new report from Redfin found that home sellers gave concessions to buyers in 42.9% of U.S. home sales during the three months ending April 30. This is up from 25.5% at the same time last year but below February’s all-time high of 45.6%.  Concessions can include money toward repairs, closing costs, and mortgage-rate buydowns. About one in five homes sold for less than the asking price along with a concession. Redfin analysts say seasonality is the reason concessions dropped off, as more buyers typically enter the market in spring, giving sellers an edge. But the high-rate, high-home price environment kept…