Strong Buyer's Markets Reported in Houston, Las Vegas, and Dallas
What happened
A new analysis indicates that buyers in the country are successfully pressuring sellers to offer incentives such as cash for repairs, closing costs, and mortgage-rate buydowns. Seller concessions were offered in 44.7% of all U.S. home sales in August, a rise from 42.6% recorded the previous year. In contrast, the New York metro area saw concessions in only 5.7% of sales.
From nypost.com
Why it matters
The national trend is attributed to a glut of homes for sale, which grants buyers significant negotiating power. August was the strongest buyer's market recorded in Redfin history since 2013, with markets like Houston, Las Vegas, and Dallas noted as being among the top performing areas.
From nypost.com
Who's involved
- HoustonMajor metropolitan area experiencing strong buyer market conditions.
- Las VegasMajor metropolitan area experiencing strong buyer market conditions.
- DallasMajor metropolitan area experiencing strong buyer market conditions.
- AtlantaMarket noted as having the strongest buyer's market conditions.
- Amanda PetersonRedfin Premier agent in the Dallas area, commenting on buyer demands.
Keep exploring
The entities involved
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Houston
seat of Harris County, and largest city in State of Texas, United States
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Las Vegas
seat of Clark County, and largest city in state of Nevada, United States
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Dallas
city in the state of Texas, United States