10 cities where eager home sellers are handing out concessions like cash to sweeten deals for buyers

Americans are feeling pretty down in the dumps about the economy as recession fears grow. But one group's prospects may actually be on the mend: homebuyers.

If you're on the hunt for a house, you may be in luck as the real-estate market slowly starts to tilt in favor of buyers, according to Redfin.

The biggest sign? Home sellers are giving concessions to buyers. Across the nation, 44.4% of home sales included a concession in Q1 of 2025, up from 39.3% a year earlier.

Sellers are throwing in the kitchen sink — literally. Concessions come in many forms and are used by sellers to sweeten a deal and encourage buyers to close the transaction faster. For example, sellers may offer to cover closing costs, pay for home repairs or appliances, buy down the mortgage rate, or pay for other miscellaneous fees.

Homeowners who are putting their houses on the market are quickly realizing they need to resort to concessions or even straight-up price reductions to seal the deal.

Many sellers bought their homes in 2021 and 2022 when home values were at record highs, so they're eager to ask for a high price to make back their money, Redfin real estate agents said.

Unfortunately for sellers, buyers simply aren't having it.

According to Redfin, the median asking price for a house is $469,729, but the median sale price is 9% lower at $431,057 — meaning that sellers are being forced to temper their expectations and lower their prices.

"There's a growing disconnect between what sellers think they can get for their homes and the direction the market is actually moving," said Redfin Senior Economist Elijah de la Campa.

Buyers are gaining the upper hand

There are a lot more sellers than buyers in the housing market, and buyers are hesitant to pull the trigger on a big transaction during a time of increased economic uncertainty. Elevated mortgage rates and expensive home prices are further discouraging buyers.

"When buyers and sellers are on different planets, one side eventually has to give in, and it's looking like it's going to be sellers this time," De la Campa said. "Rising inventory, price drops and seller concessions indicate this is already starting to happen, and sale-price growth will likely continue to slow as a result."

Buyers should take advantage of this dynamic, Chaley McVay, a Redfin real estate agent in Portland, Oregon, recommends.

"If you're a buyer and you find a home you like that's a bit above your price range, I encourage you to get the conversation started and make an offer anyway. A lot of house hunters are hesitant to offer under the asking price, but in this market, it's not out of the ordinary to see sellers lower their prices and give concessions."

Top 10 cities where sellers are giving concessions

Listed below are the top 10 US metro areas where sellers gave concessions in Q1 2025, along with the percentage of home sales with concessions for each city.