In February 2025, home sellers were compelled to lower their prices as the inventory of unsold homes increased, coinciding with elevated mortgage rates. Reported by Realtor.com, the percentage of homes with price cuts hit 16.8%, the highest for February since 2016, indicating sellers' irritation with market dynamics. The typical home took longer to sell at 66 days, reflecting buyers' hesitance. Particularly, Denver, Charlotte, and Tucson saw notable increases in price cuts, suggesting meaningful regional variations in the real estate market.
Home sellers continued cutting their prices in February as they faced a growing number of properties lingering on the market due to high mortgage rates.
The share of housing inventory with price cuts reached 16.8%, signaling that sellers are adjusting their expectations amid a slower market.
In February, homes sat unsold for an average of 66 days, indicating that buyers are not rushing to make purchases.
Denver, Charlotte, and Tucson experienced the largest increases in price reductions among the nation's largest metropolitan areas.
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