02/27/2025
The Wall Street JournalThe Wall Street Journal
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Home buyers have the most leverage over sellers in years.
The bidding wars of the past half decade are fading in many parts of the country. Instead, today’s buyers say they are finding sellers willing to lower prices or throw in extras to sweeten the deal.
Here’s what you need to know:
🏠 The average home is now changing hands for 2% less than the price on the listing, according to hashtag brokerage Redfin.
🏠 Behind the shifting power balance is a growing supply of homes on the market. New listings increased in January by almost 5% versus last year. By one measure, there are more for-sale homes than at any point in six years.
🏠 At the same time, demand is easing because many would-be buyers are deciding not to purchase at today’s prices, which are up sharply from a few years ago.
🏠 The typical home sold in January was on the market for nearly two months, the longest period since February 2020. As a result, many sellers are more willing to give concessions.
Have you bought or sold a home recently or are you in the process of buying or selling one? What was the experience like?
🔗 Read more from Veronica Dagher:
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