Major Builders Lean into Concessions and Rate Buydowns as Home Sales Slip

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Not long ago, a homeowner in America might reasonably wager they could sell their home fairly quickly, and for more than their asking price. That’s unlikely to be a winning bet now. Across the nation, a stagnant housing market is leaving many sellers in limbo, unable to relocate for a new job, buy their next home to accommodate a growing family, or follow through with other major life decisions that necessitate selling their home.

A converted church that was built in 1921 as a place of worship for German immigrants is on the market for $225,000. The former St. Jone's Church—or Haas Church at the Corners—in Fredonia, PA, is large and in possession of a few original artifacts. "The sanctuary is huge. A prior owner took all of the wooden church pews out of it unfortunately, and took most of the stained-glass windows out," says listing agent Kathleen Mackinnon with Realty One Group Landmark – Indiana. "There are still a few [windows] left, but I think [that owner] was just taking what he could, selling it off, and then putting it up for sale. "The brick building dates to 1921. Kathleen Mackinnon/ The Blue BodhiA few original windows remain. Kathleen Mackinnon/ The Blue BodhiThe upper level has gone through some renovations to give the church a makeover into a living space. "You walk in the back door to the residence, and there is a large kitchen and two bedrooms and a bathroom, and then you go upstairs to the next level, and there is this large [room], which could be used for whatever or could be turned into another huge bedroom," Mackinnon says.

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