Buyers Gain Leverage as Housing Inventory Jumps 17% Nationwide

Nearly 1 in 5 Homes Cut Prices as Buyers Gain Edge

The U.S. housing market is showing signs of shifting in favor of buyers. According to FOX Business, nearly one in five homes listed for sale in September had a price reduction as rising inventory gave buyers more leverage.

Where the Cuts Are Happening

Realtor.com’s latest report shows that 19.9% of listings included price cuts last month. The steepest markdowns came in the $350,000 to $500,000 range, where 21.6% of homes lowered their asking price. In contrast, luxury homes priced above $1 million saw fewer reductions at 13.3%.

“Price reductions are more common at the lower end of the market, while higher-priced sellers are more likely to hold firm,” Realtor.com senior economist Jake Krimmel told FOX Business.

Regional Differences

Price adjustments vary significantly by region. Just 14% of listings in the Northeast were reduced, compared to 21% in both the South and West. Among major metro areas, Denver led with 30.7% of homes dropping prices, followed by Portland at 30.2% and Indianapolis at 29.7%.

What’s Driving the Shift

Active inventory jumped 17% year-over-year, marking the fifth straight month with more than 1 million homes on the market. Homes are also taking longer to sell, with the median time on market reaching 62 days. Despite these shifts, the median national list price stayed flat at $425,000 — though that’s still 36% higher than in 2019.

Krimmel noted that “price cuts stand out as one of the few trends uniting markets nationwide,” signaling that affordability pressures and rising supply are forcing sellers to reset expectations.