The share of available listings that saw a price cut in July rose to 18.9%, up 3.4% compared to the same time period last year, according to a recent report from real-estate listings site Realtor.com.
Rates remain higher than expected, which means there is less buyer activity. The prospect of lower mortgage rates coming this fall may have induced some buyers to wait. This combo has led sellers to lower their prices in order to attract more buyers.
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