www.foxbusiness.com
US homebuyers are seeing record price discounts as sellers adjust to a changing market. A Zillow report reveals typical listings had $25,000 in cumulative price cuts in October, matching record highs. While individual price cuts remain around $10,000, sellers are making adjustments more frequently due to longer listing times. Expensive markets like San Jose, Los Angeles, and New York City saw the largest median discounts. However, areas with faster sales and steady demand, such as Oklahoma City and Louisville, experienced smaller price reductions. Pittsburgh and New Orleans provided the highest relative discount compared to home value.
