Nearly 1 in 5 Homes Slashed Prices Last Month, Despite Falling Mortgage Rates

Nearly 1 in 5 homes slashed prices last month, despite falling mortgage rates

Buyers still have the upper hand in the housing market, with more homes to choose from and nearly 20% of sellers slashing their prices in September.

Nearly 1 in 5 American homes slash prices as buyers gain upper hand in shifting market

Nearly one in five American homes listed for sale reportedly saw a price cut in September, as rising inventory shifted more power to buyers.The number of listings with price cuts reached 19.9%, unchanged from August but up modestly from last year. Homes priced between $350,000 and $500,000 saw the steepest markdowns at 21.6%, while luxury properties over $1 million were less likely to see reductions, at just 13.3%, according to a Thursday report…