Price Cuts Reach Yearly High as Inventory Nears Pre-Pandemic Levels: Realtor.com® September Housing Report
PR Newswire•30/09/2026•06:00 ET
0
Key Highlights
- ➤Price-reduced listings reached 20.8%, highest September reading since 2018
- ➤Active inventory rose 5.4% year over year to 1,161,615 homes
- ➤Homes under contract fell 4.1% year over year, steepest decline since March 2025
- ➤Median listing price fell 1.4% year over year to $419,250
- ➤Price reductions rose across all four regions year over year
Expert Statements
Danielle Hale, Chief economist at Realtor.com
“September's housing data shows that buyers are gaining leverage, but higher mortgage rates are limiting how much of that opportunity they can use”
Danielle Hale, Chief economist at Realtor.com
“Inventory is improving and more sellers are adjusting prices, yet the decline in pending sales makes clear that affordability remains a central constraint as the fall season gets underway.”
Danielle Hale, Chief economist at Realtor.com
“The coming weeks — including Realtor.com's September 27–October 3 Best Time to Buy window — can be an opportunity for well-prepared buyers, who can navigate today's higher financing costs, to find more choices, less competition and greater room to negotiate.”
Jake Krimmel, Senior economist at Realtor.com
“More homes are available than they were a year ago, and the inventory gap with the pre-pandemic market is closing”
Jake Krimmel, Senior economist at Realtor.com
“But the source of that improvement matters. It is arriving as demand cools in response to higher borrowing costs, not because a new wave of sellers is rushing into the market.”
Jake Krimmel, Senior economist at Realtor.com
“Price cuts and delistings tell two different parts of the seller story”
Jake Krimmel, Senior economist at Realtor.com
“More owners are acknowledging that today's buyers need a lower price, but they are still choosing to stay in the market rather than walk away. That is a healthier adjustment than a widespread retreat — although the next question is whether deeper or repeated reductions can bring buyers back and get more homes under contract.”
Jake Krimmel, Senior economist at Realtor.com
“Buyers are gaining negotiating power, but that does not look the same everywhere”
Jake Krimmel, Senior economist at Realtor.com
“The West is seeing the sharpest rise in price cuts, while the Midwest has held up better on prices per square foot. Local supply, affordability, and rate sensitivity are increasingly determining how quickly each market adjusts.”
Price Cuts Reach Yearly High as Inventory Nears Pre-Pandemic Levels: Realtor.com® September Housing Report PR Newswire
Buyer Leverage Grows as Sellers Remain on the Market Rather than Pulling Listings
Get started
Create a free account to read the full story.