Desperate home sellers are basically paying buyers to purchase their homes

Jan 7 2023 by Business Insider

 
More sellers are slashing prices and offering concessions.

Reuters

Sellers gave concessions in a record 42% of home sales at the end of 2022, Redfin found.   High prices and mortgage rates make home-buying more costly, which turns off buyers. Sellers are more likely to negotiate to offload their properties to the few buyers still out there.

Sales of previously owned homes have fallen for 10 consecutive months. It's making some home sellers so desperate they're offering buyers cash to...

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