Homebuyers Find More Choices and Lower Prices in Key Metros

Price cuts in the U.S. housing market are rising, with 21% of sellers reducing prices recently, the highest since 2022. This shift is driven by mortgage rates surpassing 7%, increasing borrowing costs and slowing demand. Cities with the most price cuts include Denver (30.9%), Indianapolis (29.9%), San Antonio (26.8%), Dallas (26.1%), and Austin (26.0%), with median home prices ranging from about $260,000 to $874,000.