Nearly Half of Homebuyers Get Concessions From Sellers as Most Markets Tip in Buyers' Favor

Redfin data show August 2026 as a record-strong buyer’s market, with concessions and even dual discounts increasingly common in many U.S. metros.

Rhea-AI Summary

Rocket (RKT)-powered brokerage Redfin reports that U.S. home sellers granted concessions in 44.7% of August home sales, up from 42.6% a year earlier and the highest August share since at least 2020.

Redfin characterizes August 2026 as the strongest U.S. buyer’s market in records back to 2013, with more inventory and fewer competing buyers prompting sellers to cover closing costs, repairs and other incentives. Concessions are most common in Sun Belt buyer’s markets: Atlanta leads at 72.8% of deals with concessions, followed by Charlotte (67.9%), Phoenix (67.4%), Las Vegas (66.7%) and Raleigh (66.3%). They are least common in San Jose (4.2%), New York (5.7%) and San Francisco (18.6%), where markets are stronger. Nationwide, 15.8% of August sales combined both a seller concession and a price cut.

Market Context

The -1.71% reaction on Sep 10 followed Redfin's strongest buyer's-market report, while this release ...

Analysis

The -1.71% reaction on Sep 10 followed Redfin's strongest buyer's-market report, while this release quantified concessions at 44.7%; the sequence linked the new statistic to an already documented buyer-power theme.

Key Figures

U.S. concession rate: 44.7% Year-ago concession rate: 42.6% Atlanta concession rate: 72.8% +5 more

U.S. concession rate

44.7%

August home sales

Year-ago concession rate

42.6%

August home sales

Atlanta concession rate

72.8%

August homebuying deals

Charlotte concession rate

67.9%

August homebuying deals

Seattle concession rate

48.5%

August home sales, down from roughly 70% a year earlier

San Jose concession rate

4.2%

August home sales, down from 10.2%

Homes with concession and price cut

15.8%

Nationwide August home sales

Year-ago combined discount rate

15.6%

Nationwide August home sales

Historical Context

3 past events · Latest: Sep 10

3 events

1. Sep 10

   Buyer-market report

   24h Move

   -1.7%

   Redfin reported record buyer-seller imbalance, led by Sun Belt markets.

2. Sep 09

   Housing supply report

   24h Move

   -2.7%

   Redfin reported multi-year-high supply as listings rose while demand remained nearly flat.

3. Sep 17

   Pending sales report

   24h Move

   -2.9%

   Redfin reported pending sales at a nearly three-year low amid higher mortgage rates.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

buyer's market, seller's market, base effect

3 terms

buyer's market technical

"August was the strongest buyer's market in records dating back to 2013."

A buyer's market is a market condition where there are more sellers than buyers, so prices tend to fall and purchasers have the upper hand when negotiating. For investors, it signals opportunities to buy assets at lower prices—like finding bargains at a crowded garage sale—but also can indicate weak demand or economic softness, which may affect long-term returns and the timing of buying decisions.

seller's market technical

"San Francisco is one of just five seller's markets in the U.S."

A seller's market is a condition where demand for an asset or security exceeds the available supply, giving sellers the advantage to secure higher prices and quicker sales. Think of it like an auction with more buyers than items: investors face upward pressure on prices, reduced room to negotiate, and faster turnover, which can boost short-term returns but also raise valuation risk and lower opportunities to buy at a discount.

base effect technical

"That's due to a base effect: Seattle had a very high share of concessions"

Base effect is the distortion in a percentage change that happens when current results are compared to an unusually low or high prior-period number, making growth rates look bigger or smaller than the underlying trend. Think of comparing this year’s test score to a very low score from last year: the percent improvement can look huge even if the absolute change is modest. Investors watch base effects because they can make measures like revenue growth, inflation, or earnings appear misleadingly strong or weak when judged only by year-over-year percentages.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• Redfin reports concessions are especially common in Sun Belt buyer's markets, including Atlanta and Nashville, where about 7 in 10 homebuyers are getting them
• Roughly 15% of buyers are getting double discounts: A seller concession and a price cut

SEATTLE, Sept. 18, 2026 /PRNewswire/ -- Home sellers gave concessions to buyers in 44.7% of U.S. home sales in August, up from 42.6% a year earlier and the highest share for that month since at least 2020. That's according to a new report from Redfin, the real estate brokerage powered by Rocket.

The rise in concessions reflects today's buyer-friendly housing market: August was the strongest buyer's market in records dating back to 2013. With more homes for sale and fewer buyers competing for them, sellers are increasingly willing to cover closing costs, pay for repairs or offer other incentives to get deals across the finish line.

"Buyers know they can be picky. They're asking for every concession under the sun," said Amanda Peterson, a Redfin Premier agent in Dallas. "That's especially true for newly built homes. Builders are offering $10,000 or $20,000 in concessions, buying down mortgage rates and throwing in appliances. I had clients walk away from a home they loved because the pantry was too small and they didn't like the laundry room—even after the sellers offered to alter the floor plan. There are so many homes for sale that buyers are holding out for one that checks every box."

Sun Belt Sellers Are Sweetening the Deal: Roughly 70% of Atlanta, Charlotte and Phoenix Buyers Are Getting Concessions

Eight of the 10 places where concessions are most common are in the Sun Belt.

Atlanta is number one, with home sellers giving concessions to buyers in nearly three-quarters (72.8%) of homebuying deals in August.

It's followed by Charlotte, NC, where 67.9% of sellers provided concessions to buyers, Phoenix (67.4%), Las Vegas (66.7%) and Raleigh, NC (66.3%). Nashville, TN, Houston, Denver, Riverside, CA and Virginia Beach, VA, all places where roughly three in five sellers gave concessions, round out the top 10.

Phoenix, Charlotte and Riverside are also the places where concessions increased most from a year ago.

Concessions are most prevalent in those metros largely because they're big-time buyer's markets. Nashville, Houston and Las Vegas are among the five strongest buyer's markets in the nation, with more than twice as many sellers as buyers. That means buyers have a lot of options, and sellers are competing for offers—making it more likely that they'll provide concessions to close the deal.

Many of those places were hot homebuying spots during the pandemic boom, when low mortgage rates and remote work were motivating people to move. Much of the Sun Belt built homes at a rapid rate to meet demand; Texas, North Carolina, Arizona and Tennessee had some of the most active building pipelines in the county. But since then, their housing markets have done a 180, leaving diminished demand and a big pile of listings.

Concessions Are Least Common in the Bay Area and New York

Concessions were least prevalent in San Jose, CA, where just 4.2% of home sellers gave concessions to buyers in August.

Next comes New York (5.7%), followed by another Bay Area metro area, San Francisco (18.6%). Chicago (21.9%) and Philadelphia (25.5%) round out the five places where concessions were least common.

Fewer sellers are giving concessions to buyers in those places because their housing markets are relatively strong. San Francisco is one of just five seller's markets in the U.S.—meaning there are more buyers than sellers—largely because the city's AI boom has created a swarm of affluent buyers. San Jose, New York and Chicago are all balanced markets, meaning they have roughly the same number of home sellers and buyers. In places like that, house hunters don't have much leverage to get concessions.

The Concession Rate Is Falling in San Jose and San Diego, Where Markets Are Heating Up

The concession rate declined in nine of the 29 markets in Redfin's analysis.

It dropped most in Seattle, where 48.5% of sellers gave concessions in August, down from roughly 70% a year earlier. That's due to a base effect: Seattle had a very high share of concessions in summer 2025, so it had a lot of room to fall. Additionally, nearly three in five (57%) of Seattle homes that sold in August went for below asking price—so buyers are getting discounts, just not necessarily from concessions.

The next-biggest declines were in San Jose (4.2% of home sellers gave buyers concessions, down from 10.2%) and San Diego (57.1%, down from 62.4%). San Jose's market is heating up due to its proximity to San Francisco's AI-driven market. San Diego's market is speeding up, with local Redfin agents reporting that single-family, turnkey homes are attracting competition.

Roughly 1 in 7 U.S. Home Sellers Are Giving Concessions and Cutting Prices

Some sellers are giving concessions to buyers and dropping their asking price.

Nationwide, 15.8% of homes that sold in August had a price drop in addition to a concession. That's up incrementally from 15.6% a year earlier, and the highest August share in our records.

To view the full report, including charts, a methodology and more metro-level data, please visit: https://www.redfin.com/news/home-seller-concessions-august-2026

About Redfin 
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

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SOURCE Redfin

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Which U.S. metros have the highest rates of seller concessions?

Redfin reports that concessions are most common in the Sun Belt. Atlanta tops the list, with sellers giving concessions in 72.8% of August homebuying deals. It is followed by Charlotte, NC (67.9%), Phoenix (67.4%), Las Vegas () and Raleigh, NC (66.3%). Nashville, Houston, Denver, Riverside, CA and Virginia Beach, VA also rank in the top 10, with roughly three in five sellers providing concessions.

Where are seller concessions least common, according to Redfin’s August data?

Concessions were least prevalent in San Jose, CA, where 4.2% of home sellers granted them in August. Next comes New York at 5.7%, then San Francisco at 18.6%. Chicago (21.9%) and Philadelphia (25.5%) round out the five metros with the lowest concession rates, reflecting relatively strong or balanced local housing markets.

How common are combined price cuts and concessions among U.S. home sellers?

Nationwide, 15.8% of homes that sold in August had both a seller concession and a listing price drop. That share is up slightly from 15.6% a year earlier and is the highest August level in Redfin’s records.

In which markets is the concession rate declining, and what is happening there?

The concession rate declined in nine of the 29 metros studied. Seattle saw the largest drop, with 48.5% of sellers giving concessions in August, down from roughly 70% a year earlier; however, about 57% of Seattle homes still sold below asking price. San Jose’s concession rate fell to 4.2% from 10.2%, and San Diego’s declined to 57.1% from 62.4%, as both markets heat up and, in San Diego’s case, turnkey single-family homes attract more competition.