Summary
Realtor.com released a report showing U.S. cities where sellers lower home prices the most. Austin, Texas, leads the list with a high percentage of listings having their prices cut three or more times. This trend might help buyers know where demand is slower and they have more negotiating power.
Key Facts
- Realtor.com identified U.S. cities with frequent home price cuts.
- Austin, Texas, has the highest share of listings with three or more price cuts (22.2%).
- San Antonio, Texas, follows Austin with 22% of listings reduced three times or more.
- Tampa, Florida, ranks third with just under 21% of listings facing significant price cuts.
- Other cities in the top 10 include Indianapolis, Jacksonville, Dallas, Orlando, Portland, Phoenix, and Denver.
- Austin homes generally take about three months to sell, with listings staying on the market longer than a year ago.
- Realtor.com describes these as "buyer-friendly markets" due to low demand and high inventory.
