US Housing Market Tilts Toward Buyers As Record 46% Of Sellers Offer Concessions
The U.S. housing market is increasingly shifting in favor of buyers as sellers across the country offer record levels of concessions amid weak demand and persistently high mortgage rates.
Buyer Market Gains Ground As Seller Concessions Surge
On Saturday, according to data shared by The Kobeissi Letter on X, "46% of home sellers offered concessions to buyers in May, the highest May reading on record."
The post added that this figure has "DOUBLED since 2022" and marks "the 2nd consecutive annual increase," highlighting a sustained shift in market dynamics.
The analysis also pointed to a widening supply-demand imbalance, noting the U.S. now has "~47% more home sellers than buyers," driven by elevated mortgage rates and economic uncertainty that continues to suppress demand.
Regional differences remain stark. In Nashville, "76% of sellers gave concessions in May," the highest among major metropolitan areas, followed by Charlotte at 71% and Atlanta at 69%.
By contrast, only "3% of New York home sellers offered concessions last month," underscoring uneven conditions across housing markets.
US Housing Policy Push And Construction Slowdown
U.S. housing policy efforts advanced alongside signs of a cooling construction market, highlighting ongoing strain in housing supply and affordability.
Earlier, President Donald Trump was set to sign the 21st Century ROAD to Housing Act, a bipartisan bill aimed at boosting supply, reducing costs, and limiting large investors’ role in single-family housing.
The Senate passed the measure 85–5, and officials said it included more than 45 provisions focused on expanding housing availability and improving affordability.
At the same time, housing data showed a sharp slowdown in construction.
U.S. housing starts fell 15.4% in May to 1.18 million units, the lowest level since 2020.
Multifamily construction led the decline, while single-family activity also weakened.
Building permits and housing completions also slipped, signaling continued caution from developers and a broader slowdown across the housing pipeline.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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