Homebuyers Gain Leverage as Seller's Market Shifts

Discounts and concessions rise as the housing market cools from its pandemic-era frenzy

Published on Feb. 3, 2026

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A new Redfin analysis finds that 62% of buyers paid less than the asking price in 2022, the highest share since 2019, with average discounts near 8% - a level not seen since 2012. Sellers are also offering more concessions like help with closing costs and mortgage-rate buydowns as the market moves away from the seller-dominated days of 2020-2022.

Why it matters

The shift to a buyer's market comes as high prices and elevated mortgage rates continue to keep many would-be buyers on the sidelines, leaving a record gap between sellers and buyers. This provides more choice and negotiating power for those still shopping, particularly in parts of the South where new construction has increased supply.

The details

Redfin's chief economist Daryl Fairweather expects sales to pick up modestly this year as buyers and sellers move closer on appropriate pricing. The markets with the biggest difference between buyers and sellers are led by Austin, followed by Fort Lauderdale, Nashville, Miami, San Antonio, West Palm Beach, Houston, Las Vegas, Dallas, and Tampa.

  • In 2022, 62% of buyers paid less than the asking price, the highest share since 2019.
  • Average discounts reached 8% in 2022, a level not seen since 2012.

The players

Redfin

A real estate brokerage firm that provides the data and analysis cited in the article.

Daryl Fairweather

The chief economist at Redfin who expects sales to pick up modestly this year as buyers and sellers move closer on appropriate pricing.

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What they’re saying

“It's a buyer's market”

— Daryl Fairweather, Chief Economist, Redfin (Redfin)

What’s next

Fairweather expects sales to pick up modestly this year as buyers and sellers move closer on appropriate pricing.

The takeaway

The shift to a buyer's market, with more discounts and concessions, provides opportunities for persistent homebuyers who have weathered the pandemic-era frenzy, particularly in markets with ample new construction and supply.