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21.1% of US sellers cut asking prices in four weeks to Sept. 20

The price-drop rate rose to the highest level for this time of year in Redfin records, edging up from 19.8% a year earlier.

Reported · Written up by our desk · Residential

Redfin reports that 21.1% of U.S. home sellers with active listings cut their asking prices during the four weeks ending September 20, the highest share for this period in its records dating back to the start of 2022.

The outlet said the rate was up slightly from the same stretch a year earlier, when 19.8% of sellers dropped their prices, based on its analysis of MLS data.

Redfin noted that while price drops are becoming a bit more common as the market turns more buyer-friendly, the increase is only slight even as bidding wars fade and homes tend to linger longer on the market.

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