housing market
The Home Seller And a Changing Market
Approximately 23% of listings received price cuts in March 2025, the highest rate since 2018. Overpricing can lead to prolonged market time and increased carrying costs. For instance, a $500,000 home with $3,000 monthly expenses incurs $9,000 in costs over three extra months. Buyers now expect concessions, such as assistance with closing costs or mortgage rate buy-downs. The home seller must be prepared to negotiate and offer incentives to attract offers.