The Housing Market Is Swinging Toward Buyers

Many home shoppers have given up on the depressed housing market, where sales are stuck at a 30-year low. But those buying are enjoying discounts at the highest rate in years.

About 62% of buyers last year purchased a home below the original listing price. That was the highest proportion since 2019, according to a new analysis by the real-estate brokerage Redfin.

The average discount for the homes that sold below their original listing price was around 8%—the largest since 2012...