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Real Estate Markets Move From Sellers To Buyers Market As More Sellers Offer Mortgage Buydowns To Stand Out
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In a record 45.5% of home sales recorded by Redfin agents during the three months ending February 28, home sellers gave concessions to buyers. That's the largest quarterly share in Redfin's history since July 2020. Due to inflation and rising interest rates, concessions such as money for repairs and mortgage rate buy-downs have become standard fare.