US Housing Market Tilts to Buyers: Record Concessions in May
A record 46% of US home sellers offered concessions to buyers in May, double the rate since 2022, as the number of sellers now exceeds buyers by nearly 47%.
The US housing market is increasingly favoring buyers, with 46% of home sellers offering concessions in May—the highest May reading on record. This figure has doubled since 2022 and marks the second consecutive annual increase, according to data from The Kobeissi Letter.
Elevated mortgage rates and economic uncertainty continue to weigh on buyer demand, contributing to a market where sellers now outnumber buyers by roughly 47%, near record levels.
Regional variations are stark: Nashville led with 76% of sellers offering concessions, followed by Charlotte (71%) and Atlanta (69%). In contrast, only 3% of New York sellers made concessions last month, highlighting the uneven shift in negotiating power across major metros.
Source: The Kobeissi Letter