Nearly half of home sales in August came with a sweetener from the seller, a rate not seen for that month in at least six years. Could the buyer’s market of 2026 be here?
Homesellers gave buyers concessions in 44.7 percent of U.S. sales in August, up from 42.6 percent a year earlier, according to a Redfin analysis of data from the company’s buyer’s agents. Concessions include money toward closing costs, repairs or mortgage-rate buydowns.
Redfin characterized August as the strongest buyer’s market 2026 has seen and the strongest in its records dating back to 2013, citing more homes for sale and fewer buyers competing for them.
The data lands days after the Federal Reserve raised its benchmark interest rate a quarter point to a range of 3.75 to 4 percent, its first increase in three years, a move tied to persistent inflation that has also pushed mortgage rates toward 7 percent.
Homeseller concessions 2026: Sun Belt sellers lead the shift
Concessions clustered in Sun Belt metros, where Redfin’s data shows buyer leverage is strongest. Sellers gave concessions to buyers in 72.8 percent of Atlanta sales in August, the highest rate of any metro, followed by Charlotte at 67.9 percent and Phoenix at 67.4 percent.
Redfin traced the pattern back to the pandemic-era homebuying boom, when low mortgage rates and remote work drove migration to the Sun Belt. Texas, North Carolina, Arizona and Tennessee built homes at a rapid rate to meet that demand. Demand has since cooled, leaving builders and sellers with more listings than buyers.
“Buyers know they can be picky. They’re asking for every concession under the sun,” said Amanda Peterson, a Redfin Premier agent in Dallas. “There are so many homes for sale that buyers are holding out for one that checks every box.”
Concessions were least common in San Jose, where 4.2 percent of sellers gave buyers concessions in August, and New York, at 5.7 percent. Redfin attributed the lower rates to tighter markets, including a seller’s market in San Francisco, where the company said AI-sector hiring has drawn a wave of affluent buyers.
By the numbers
- 44.7 percent — Share of U.S. home sales with a seller concession in August, the highest for the month since at least 2020
- 3.75 to 4 percent — New federal funds rate range after the Fed’s hike, the first in three years
- 72.8 percent — Atlanta’s concession rate, the highest of any metro
- 4.2 percent — San Jose’s concession rate, the lowest of any metro
- 15.8 percent — Share of August sales that paired a concession with a price cut, the highest August share on record
