Active listings jumped 29.6% year-over-year to 1,112 homes while median list price held steady at $419,450, creating a 2.6-month supply that signals shifting market dynamics for Kentucky's second-largest metro. The Lexington-Fayette, KY metro housing market absorbed 112 homes during the week ending Nov. 7, 2025, up 6.7% from 105 homes during the same period last year. Despite the inventory surge, the median list price dipped just 1.8% year-over-year, demonstrating remarkable price stability even as more options flood the market.
Alaska's 39.4% price-cut rate tops Hawaii's 31.9% even as both markets balance seller leverage with longer selling timelines. Alaska's housing market saw 39.4% of active listings reduce their asking prices during the week ending Nov. 7, 2025, outpacing Hawaii's 31.9% price cut rate despite Alaska homes carrying a median list price of $469,000 compared to Hawaii's $1,285,000. The pricing strategy divergence between America's two non-contiguous states reveals distinct market dynamics.
Nearly half of Tucson's home sellers adjusted their asking prices downward in the week ending Nov. 7, 2025, yet the market absorbed 313 properties while adding just 221 new listings, a 141% absorption rate that signals pricing strategies are connecting with buyers. The Tucson metro's single-family market recorded 3,539 active listings with a median price of $417,430. Despite 42.9% of sellers reducing prices, the median held steady, while homes moved at a 70-day median pace that matched Arizona's statewide tempo.
The PhoenixMesaGlendale metro housing market presents a striking paradox: while 48.99% of active listings have reduced prices, the median list price holds firm at $522,000, sitting 20% above the national median of $435,000. This pricing dynamic signals a market recalibration where sellers are adjusting expectations despite maintaining relatively high price points. The Arizona metro recorded 16,811 active single-family homes as of Oct. 31, 2025, with 1,158 new listings entering the market during the week.
California's most expensive housing markets are posting mixed results, with price per square foot ranging from $706 to $989 among top metros. While all significantly exceed state and national medians, their selling speeds and market conditions vary widely. Santa Barbara leads the state at $989 per square foot, followed by San Jose at $962. Both metros price well above California's $409 median and dwarf the national median of $213. Yet their market dynamics differ substantially.
The housing market has transitioned to a more balanced state nationally, with a five months' supply reported in June, indicating a shift towards more buyer-friendly conditions as we head into fall. Seven of the top 50 U.S. metros have become buyer's markets, according to the latest report from Realtor.com economists. Miami leads the list with nearly 10 months' supply in June.
