US Existing-Home Buyers See Biggest Discounts Since 2012

On Monday, Redfin reported that the typical US homebuyer who purchased an existing home below the list price in 2025 received a 7.9% discount, the largest such reduction since 2012, based on its analysis of annual MLS data comparing original list prices with final sale prices.

In dollar terms, that discount equated to about $31,592, calculated by applying the 7.9% average reduction to last year’s median original list price of $399,900. Across all homebuyers—including those who paid at or above asking—the average discount was $15,196, or 3.8%.

Redfin said 62.2% of homebuyers in 2025 paid less than the list price, the highest share since 2019. By contrast, 22.8% paid more than asking, the lowest share since 2019, while 15.6% paid exactly the list price, a proportion that has remained relatively stable over time.

According to Redfin, discounts have become more common as the housing market has shifted in buyers’ favor. The firm said there were 47% more sellers than buyers in 2025, giving purchasers more options and greater negotiating leverage.

Commenting on the report, Redfin Senior Economist Asad Khan said:

“Homebuyers in 2026 shouldn’t write off homes that are slightly above their budget because there’s a good chance they’ll get some sort of concession from the seller, be it a price cut, money toward closing costs, or funds for repairs. This marks a reversal from the pandemic homebuying frenzy, when house hunters were advised to search for homes below their budget because fierce bidding wars were causing properties to sell far above the asking price.”