logo
Atlanta home buyers offered more sale concessions in 2025

Atlanta home buyers offered more sale concessions in 2025

Yahoo28-04-2025

A recent study on housing sale concessions, when home sellers give things to buyers to help push a sale through, showed that in major markets, sellers were giving more.
Among the big cities the Redfin analysis focused on, Seattle and Portland were the only cities where home sellers were making bigger concessions than Atlanta.
[DOWNLOAD: Free WSB-TV News app for alerts as news breaks]
'It's super common to see seller concessions for condos and new-construction townhomes, but less so for single-family homes—unless the single-family home has been sitting on the market for a while,' Stephanie Kastner, a Redfin Premier real estate agent, said.
Kastner said rising home owners' association fees and insurance prices were making condos a harder sell.
TRENDING STORIES:
Heavy police presence in DeKalb County community
The mystery caller to Shedeur Sanders during the draft was the son of a Falcons coach
Suspect wanted for leading law enforcement on chase, critically injuring 2 GA deputies, arrested
"Builders are offering concessions because it's in their best interest to keep sale prices high; they're willing to pay buyers' closing costs and maybe provide a free washer-dryer if it means they don't have to drop the listing price,' Kastner added.
For the current real estate market in the metro Atlanta area, Redfin reported 61.5% of homes were sold with concessions from January to March, a nearly 5% increase from the same time in 2024.
Common concessions include covering closing costs like appraisal fees, title insurance or loan origination fees, according to the National Association of Realtors.
The Redfin data comes alongside new numbers from the Georgia MLS, a real estate services company that tracks buying and selling in the state.
In March, GAMLS data showed home sale volumes had fallen nearly 5% both for dollar volume and units sold.
However, inventory data was better, showing a 20.1% increase in listings and a 48% increase in active listings compared to the previous year.
[SIGN UP: WSB-TV Daily Headlines Newsletter]

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Apple to pay $95 million in Siri eavesdropping settlement; Here's how to file your claim
Apple to pay $95 million in Siri eavesdropping settlement; Here's how to file your claim

Yahoo

time8 hours ago

  • Yahoo

Apple to pay $95 million in Siri eavesdropping settlement; Here's how to file your claim

Those who own Siri-enabled devices, including iPhones, MacBooks, and iPads, may be eligible to file a claim in Apple's $95 million settlement over allegations that Siri has been eavesdropping on consumers. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] As reported by CBS News, California resident Fumiko Lopez filed a lawsuit in 2021 claiming that several types of Apple devices have been eavesdropping on Apple consumers. The lawsuit claims that the private and confidential discussions Siri had allegedly listened to were being shared with third-party businesses that then targeted consumers with ads in Apple search and Safari, according to CBS News. 'Apple denies all of the allegations made in the lawsuit and denies that Apple did anything improper or unlawful,' the settlement website states. Apple agreed to the settlement earlier this year, and now consumers can file claims to get a piece of the $95 million agreement. TRENDING STORIES: Deputies: Wood thrown at officers in high-speed chase; ends in wrong-way crash on I-75 Injuries reported after car slams into Miami County home Child, adult dead after being pulled from SUV that went into pond Consumers who owned Siri-enabled iPhones and other Apple devices between Sept. 17, 2014, and Dec. 31, 2024, and 'experienced an unintended Siri activation during a confidential or private communication,' are eligible to file a claim, according to the settlement website. Consumers who owned iPhones, iPads, an iPod Touch, an iMac, a MacBook, an Apple Watch, an AppleTV, and/or a HomePod could all be eligible for payment. The amount consumers could earn ultimately depends on how many people file claims, but CBS News reported there's a cap of $20 per Siri-enabled device that a person owns. Apple consumers can file a claim for as many as five Siri-enabled devices, for a maximum payout of $100, according to the settlement site. To submit a claim, visit the settlement website here. The settlement's final approval hearing is scheduled for August 1, 2025, at 9 a.m., but there could be an appeal that would delay the payout, as reported by CBS News. The settlement payment will not come until later this year at the earliest. There is no confirmed date. Settlement payments, if you receive them, will be sent via physical check, e-check, or direct deposit. [SIGN UP: WHIO-TV Daily Headlines Newsletter]

South Florida now emerging as the ‘epicenter of housing weakness' — but will it spread to the rest of the US?
South Florida now emerging as the ‘epicenter of housing weakness' — but will it spread to the rest of the US?

Yahoo

time12 hours ago

  • Yahoo

South Florida now emerging as the ‘epicenter of housing weakness' — but will it spread to the rest of the US?

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Bubbles don't always burst — sometimes they deflate. But the process can still be painful, as some Florida home sellers are now discovering. According to a Bloomberg analysis of Redfin data, the number of contracts to buy homes in Miami, Fort Lauderdale and West Palm Beach dropped in April compared to a year ago, marking the steepest declines among the 50 largest metro areas in the U.S. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Notably, pending sales in Miami plunged 23%, while transactions in Fort Lauderdale and West Palm Beach declined by 19% and 14%, respectively. According to Chen Zhao, head of economics research at Redfin, the region is clearly under pressure. 'South Florida is the epicenter of housing market weakness in the United States,' she told Bloomberg. Homes are also sitting on the market much longer than elsewhere. In April, the median time to sell in West Palm Beach and Fort Lauderdale was 83 days, and 81 days in Miami — more than double the national average of 40 days. South Florida saw a historic run-up in prices during the pandemic, with homes routinely selling above asking price. But the tide has turned. In April, the median home sale price across Florida fell 3.2% year over year. And in West Palm Beach, Miami and Fort Lauderdale, nearly 5% of homes sold below asking — compared to just 0.77% nationally. 'I think you're seeing a really long, slow deflation of that bubble,' Zhao said in the Bloomberg analysis, reflecting on the shifting market dynamics. And while Florida may be feeling the pain, Zhao cautions it might not be the only state that ends up struggling: 'The question for the rest of the country is, will this spread? Florida is uniquely bad right now.' Florida's housing market seems to be under pressure, but that doesn't necessarily signal a nationwide collapse. In fact, according to Redfin, the median U.S. home sale price in April was $437,864 — up 1.3% from a year earlier. Zoom out further, and the long-term trend remains clear: Redfin data show U.S. home prices have surged roughly 45% over the past five years. Affordability, however, remains a major challenge due to the imbalance between supply and demand. As Federal Reserve Chair Jerome Powell acknowledged in a press conference last year, the real issue behind America's housing crisis is clear: 'We have had, and are on track to continue to have, not enough housing.' A June 2024 analysis by Zillow estimates the U.S. housing shortage at 4.5 million homes — a gap that continues to support demand and rental prices in many regions. Meanwhile, many investors view real estate as a time-tested hedge against inflation. As the cost of materials, labor and land rises, property values often follow — and so do rents. This allows landlords to earn income that tends to keep pace with inflation. Of course, with today's high home prices, elevated mortgage rates and an uncertain outlook, jumping into the market might feel daunting. But the good news is, you no longer need to buy a property outright to tap into the benefits of real estate investing. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class. Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving positive rental income distributions from your investment. Another option is First National Realty Partners (FNRP), which allows accredited investors to diversify their portfolio through grocery-anchored commercial properties, without taking on the responsibilities of being a landlord. With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns. Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties. Read more: Rich, young Americans are ditching the stormy stock market — If you're uneasy about where the U.S. housing market — or the broader economy — is headed, you're not alone. Warnings from top economists and investors are piling up. Nobel Prize–winning economist Paul Krugman has cautioned that a recession could hit the U.S. this year. Meanwhile, Ray Dalio — founder of the world's largest hedge fund, Bridgewater Associates — recently sounded the alarm on 'something worse than a recession.' With soaring national debt, persistent fiscal deficits and rising geopolitical tensions, it's no surprise that markets have been on edge. So where can investors turn for shelter? Dalio points to a familiar safe haven: gold. 'People don't have, typically, an adequate amount of gold in their portfolio,' he told CNBC in February. 'When bad times come, gold is a very effective diversifier.' Long viewed as the ultimate safe haven, gold isn't tied to any single country, currency or economy. It can't be printed out of thin air like fiat money, and in times of economic turmoil or geopolitical uncertainty, investors tend to pile in — driving up its value. Hence why, over the past 12 months, gold prices have surged by more than 40%. One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to help shield their retirement funds against economic uncertainties. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in silver for free. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Mortgage Rate Predictions for June: Can Rates Fall Without Fed Cuts?
Mortgage Rate Predictions for June: Can Rates Fall Without Fed Cuts?

CNET

time13 hours ago

  • CNET

Mortgage Rate Predictions for June: Can Rates Fall Without Fed Cuts?

Mortgage rates can change daily and even hourly. Tharon Green/CNET Forecasts for the housing market haven't changed much, with stubbornly high mortgage rates keeping prospective homebuyers on the sidelines. After the average rate for a 30-year fixed mortgage inched past 7% last week, it's moving back down, but not by much. Meanwhile, Friday's release of labor data showed the unemployment rate maintaining a status quo at 4.2%, which likely won't cause enough alarm for the Federal Reserve to reduce interest rates at its upcoming policy meeting on June 17-18. As I've pointed out in the past, a slowing job market would make it more likely for the central bank to lower borrowing costs. But even though official labor data appears stable, experts warn the worst is yet to come. Jobless claims and layoffs are increasing, signaling employer caution amid trade wars and ballooning government debt. The Fed is facing a challenging balancing act between keeping inflation in check and keeping unemployment low. Inflation is expected to go up as domestic companies pass expensive duties onto consumers in the form of higher retail prices. "As long as the tariffs remain high, there will be a worry about persistently high inflation that the Fed cannot ignore," said Chen Zhao, Redfin's head of economic research. Most experts say the housing market is unlikely to change significantly in the coming months. With no clear consensus on what's next for the economy or fiscal policy, mortgage rates have been in a holding pattern. Prospective homebuyers should expect rates to remain near 6.8% for the remainder of 2025, according to Redfin's forecast. How would the Fed impact mortgage rates? Following signs of cooler inflation, the Fed cut interest rates three times in 2024, making borrowing costs slightly less restrictive. However, the Fed has held rates steady since then, waiting to see the long-term implications of the president's policies before it lowers rates again. The Fed's actions don't immediately dictate mortgage rates, but they indirectly influence how much it costs to borrow money across the economy. Financial markets don't expect interest rate cuts until September at the earliest. "There's way too much uncertainty as to what becomes of the tariffs, inflation and the broader economy," said Keith Gumbinger, vice president at "There may be no cut at all if conditions don't support it." Fewer interest rate cuts combined with the administration's budget bill, which is expected to significantly raise deficits, are likely to keep upward pressure on longer-term bond yields. The 30-year mortgage rate closely tracks the 10-year Treasury yield, so rising bond yields translate to higher rates for home loans. On the other hand, if the unemployment rate starts to climb due to the recent wave of layoffs, the central bank might consider easing policy to avert a deeper downturn. That would put downward pressure on Treasury bond yields and mortgage rates. Could a recession result in lower mortgage rates? In order for mortgage rates to drop significantly, the overall economic picture would have to get a lot bleaker, which isn't great for those struggling to afford a home. "The situation could change quickly if there are new announcements out of the Trump administration or if global economic conditions weaken," said Lisa Sturtevant, chief economist at Bright MLS. A recession isn't a foregone conclusion, though it's still a possibility. Joblessness is on the rise, consumer spending has slowed and economic growth declined in the first quarter of 2025. The prospect of a slowdown is weighing heavy on consumer confidence. Stagflation, an economic downturn marked by high inflation, is also a threat. If lower mortgage interest rates are a by-product of a recession, buyers who are worried about job security and affording the high cost of living will be hesitant to take on mortgage debt. "When people are anxious, they are less likely to make big decisions, like buying and selling a home," Sturtevant said. What do housing market experts recommend? In today's unaffordable housing market, prospective buyers have multiple reasons to postpone plans for homeownership. High mortgage rates and growing unease about economic instability have kept overall activity low. "Given so many unknowns, it is a good time for caution. But if the market presents a potential homebuyer with a house they love and can afford, there's little reason not to take advantage of the opportunity," said Gumbinger. Homeownership offers the promise of long-term financial stability and generational wealth-building through equity. If you're waiting for mortgage rates to come down before buying, keep in mind that the large-scale economic issues affecting the housing market are beyond your control. Instead, you can focus on the ways to bring down your individual mortgage rate, said Hannah Jones, senior research analyst at For example, shopping around for lenders can save borrowers up to 1.5% on their mortgage rate. Since each lender offers different rates and terms, you can always negotiate a better rate. If you're financially ready to buy, you can always refinance your mortgage down the road. Jones said other strategies for lowering your mortgage rate include improving your credit score, making a larger down payment or choosing a more affordable home. Experts recommend making a homebuying budget and sticking to it. Creating a realistic financial plan can help you decide if you can handle the costs of homeownership and provide you with some guidance for how large your mortgage should be. Watch this: 6 Ways to Reduce Your Mortgage Interest Rate by 1% or More 02:31 More on today's housing market

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store