From Yahoo Finance:
It’s the same housing story across the U.S., according to real estate agents in three U.S. cities. Sellers are offering more concessions as buyer demand wanes and listings linger on the market.
“Gone are the days of, ‘hey, my next door neighbor just sold last year for $100,000 over list price.’ Sellers are absolutely having to negotiate,” Dan O’Brien, an agent at Trueblood Real Estate covering Indianapolis, told Yahoo Finance.
And that’s good news for buyers.
“Now, we actually have buyers that are being protected by contingencies, like inspection and appraisal,” O’Brien said, “where a lot of times, those were out the window during the peak craziness of the COVID market.”
“Right now, sellers are operating to help with the interest rate increase. So they are offering 2-1 buydowns,” said Kathy Casey, a Coldwell Banker residential brokerage realtor in Denver. “What that means is for the first two years, your interest rate would be lower than the market rate right now.”
Like other markets, Charlotte’s sellers are providing inducements to make deals, especially paying for closing costs and buying down the interest rate, according to Sir Ashley Harrison, a real estate broker at the Harrison Group with Fathom Realty in Charlotte. Pricing, though, isn’t moving as much.
“We’re seeing more inventory, but less new listings,” Harrison said. “And we are getting a lot more seller concessions, but pricing has remained very sticky.”