1. 44.4% of home sellers offered buyer concessions in Q1 2023, up from 39.3% last year. 2. This trend nears a record high of 45.1%, indicating a competitive market.
Increased concessions point to a competitive buyer market, potentially boosting RDFN’s transaction volume, akin to trends observed in previous housing surges when concessions were high, enhancing realtor engagement and commissions in turn.
The increase in seller concessions directly reflects enhanced buyer activity, which can lead to an uptick in RDFN's market share and revenue, making this news relevant to RDFN’s business model.
Increased concessions tend to reflect immediate buyer activity, likely impacting RDFN's performance over the next few quarters as agents and transactions increase in reaction to changing market dynamics.