Home sellers are increasingly offering concessions to entice buyers, as recent data indicates this trend reached a new high in May due to persistently high mortgage rates and subdued demand in the market. Buyers should take advantage of this and get some upgrades or better yet have all your closing costs paid for.
Seller concessions refer to credits or payments provided by sellers to buyers to cover closing costs, facilitate mortgage rate buydowns, or address repair requirements. In May 2026, such concessions were involved in 46.2% of all residential sales in the United States.
There are two main reasons concessions are so prevalent both buyer leverage and seller miscalculation. Buyers have leverage, and some sellers are pricing too high. With more inventory and less competition, buyers can be selective and negotiate for everything from repairs to closing costs. Some sellers are stuck in the mindset of the 2021 market, when they had the leverage; those sellers are often pricing too high, making concessions even more necessary to close a deal.
The Portland metro market is higher than the national average on seller concessions. Despite a balanced inventory, 57.6% of home sales involve a seller concession (such as rate buy-downs or repair credits) to close the deal.
The Portland real estate market is becoming more buyer-friendly because of significant price reductions, while local conditions have settled into the most balanced state in over ten years. In Portland Metro’s inventory breakdown, the supply of homes determines who has the advantage: a 4-to-5-month supply benefits buyers, whereas less than 3 months gives sellers the upper hand. Currently, there are 3.1 months of home inventory available, indicating the market is in a neutral position.
I would say the 3.1-month average inventory is being cautious. I think that it is a lot closer to 4%. Get pre-qualified. You never know when the perfect house will come on the market. Negotiate seller concessions to offset the higher interest rate.
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