Sellers Cut Prices and Offer Concessions to Lure Buyers in Sluggish Housing Market

WHO:

Fast Company - Mark Fleming, chief economist at First American Financial, said the market has shifted toward buyers’ markets: “you might have to reduce your price, you might give a concession to get your home sold, it might have to stay on market longer.”

PBS - Jake Krimmel, senior economist at Realtor.com, said buyers are gaining leverage and sellers are doing more to meet them halfway.

Fast Company - Liz Suder, 56, a finance director and homeowner for 21 years, has three children who no longer live at home.

PBS - Rick Ganga, 58, an operations manager going through a divorce, needs to sell his home before transferring with his company to another state.

Fast Company - Ethan Butner, 36, a service manager, has an accepted offer on a larger home near Portland and needs to sell his current home to help fund it.

Fast Company - Alex Veiga is identified as an AP Business Writer.

WHAT:

Fast Company - Sellers facing a stagnant market are lowering asking prices and contributing thousands of dollars toward buyer costs; sellers who can withdraw listings are generally doing so.

PBS - Suder’s buyer agreed to pay $650,000, and she offered $9,000 toward repairs. She had initially listed the house for $750,000 and later relisted it for $725,000.

PBS - Ganga listed his home for $825,000; reducing the price to just under $800,000 did not produce an offer. He said there had been “no offers, virtually zero traffic.” Some neighborhood sellers had cut prices by $100,000 or more.

Fast Company - Butner listed his home for $480,000, cut $30,000 from the asking price, and received one offer that fell through. He installed a hot water heater and dishwasher and replaced flooring.

PBS - The average 30-year mortgage rate reached 7.4%, its highest level in nearly three years. Realtor.com reported the national median listing price fell 1.2% year over year to $419,250, and about 21% of listings had an initial price reduction, a four-year high.

PBS - Redfin analysis found about 63% more sellers than buyers across the 50 largest U.S. metropolitan areas. About 929,000 buyers was the fewest recorded since 2013; seller numbers reached their highest level since 2020.

WHERE:

PBS - Suder’s four-bedroom, 3.5-bath home is in Murphy, Texas, about 20 miles outside Dallas.

PBS - Ganga’s three-bedroom, 2.5-bath home is in coastal Blaine, Washington.

PBS - Butner’s home is in Troutdale, Oregon, about 16 miles east of Portland.

WHEN:

PBS - Suder first listed her home in April 2025 and took it off the market six months later; she relisted it in February. She said the process took more than a year.

PBS - Ganga’s home went on the market on June 1. He said he expects it may remain unsold until “spring or summer of next year.”

WHY:

Fast Company - Surging mortgage rates, years of rising home prices, and high inflation have stalled the market, strained affordability, and led some buyers to delay purchases.

PBS - Suder wanted a smaller home after her children moved out and said she did not want “to have two mortgages.”

PBS - Ganga’s divorce requires the home to be sold; he said limited equity prevents further price cuts.

HOW:

PBS - Buyers are seeking seller contributions toward closing costs and mortgage-rate buy-downs, which can reduce borrowing costs.

Fast Company - Suder lowered her asking price several times before withdrawing and relisting the property, then offered money for repairs.

(UPDATED October 26, 2026 14:48 UTC)

A stagnant housing market is shifting leverage toward buyers, with about 63% more sellers than buyers across the 50 largest U.S. metro areas and mortgage rates reaching 7.4%, the highest in nearly three years. Sellers are cutting prices and offering money for repairs, closing costs, or mortgage-rate buy-downs: in Murphy, Texas, Liz Suder accepted $650,000 after listing her home for as much as $750,000 and offered $9,000 toward repairs, while other sellers have struggled to attract offers. Surging borrowing costs and strained affordability are keeping many buyers on the sidelines, leaving homeowners such as Rick Ganga, who must sell before a company transfer, and Ethan Butner, who needs to fund a larger home, facing delays and concessions.