--- title: Home Sellers Are Slashing Prices in These Big Cities description: Zillow reports major metros offering steep home price cuts, with discounts up to $70,900 as inventory grows and buyers gain leverage. authors: - name: Pete Grieve role: Lead News Reporter url: https://money.com/author/pete-grieve/ bio: Pete Grieve is a personal finance reporter at Money who frequently covers news stories about housing topics including home buying, mortgage rates and homeowners insurance. education: University of Chicago, BA Political Science at_money_since: 2022 articles: 597 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes social: - https://twitter.com/pete_grieve - https://linkedin.com/in/pete-grieve-b5aa02138 - https://www.facebook.com/petegrieve4 editors: - name: Katherine Peach role: Associate Editor url: https://money.com/author/katherine-peach/ bio: Katherine Peach is an associate editor with a focus on news and email at Money. She didn’t always intend to write about money. She’s a classically trained pianist who dreamed of becoming an archaeologist. However, in 2007 Katherine began working in financial publishing as an editor for Agora Inc. (Apparently, unearthing ideas about improving your personal finances isn’t such a bad career alternative!) Katherine’s writing and editing work has been featured in Investing Daily, Clever, Investor Junkie, The Palm Beach Letter, Truth & Plenty, Independence Monthly, NICHE, AmericanStyle, AntiqueWeek, Millennial Money, Money Done Right, TheStreet, Sure Dividend and many others. Katherine holds a Bachelor of Arts in Ancient Studies with concentrations in Archaeology and Ancient Languages and a minor in Literature from the University of Maryland, Baltimore County. She is a member of Phi Beta Kappa. education: University of Maryland, Baltimore County at_money_since: 2025 articles: 14 covers: - Housing - Banking - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Federal Reserve Rate Cuts - Health and Wellness - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes published: '2025-11-26T15:31:06.000Z' modified: '2025-11-26T15:31:06.000Z' section: Housing tags: - News word_count: 438 canonical: https://money.com/big-home-price-cuts/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Photo-illustration of houses tipping off a ledge](https://img.money.com/2025/11/News-Housing-Markets-Price-Drops.jpg) Home shoppers in major cities are finding some of the largest discounts in recent years, with the most significant price cuts in metros like Pittsburgh, New Orleans and Austin, Texas, according to Zillow. In a [new report](https://www.zillow.com/research/home-discounts-black-friday-35759/) released Monday, the online real estate marketplace said typical discounts added up to $25,000 in October, "matching the biggest discounts Zillow has tracked." The report states that home sellers are often dropping prices multiple times before a sale. As [housing inventory](https://money.com/more-homes-for-sale-since-pandemic/) continues to grow, driving more price cuts, there is "a sliver of an opening" for prospective buyers who are finally seeing improved conditions in some major U.S. cities, the report says. [Mortgage rates](https://money.com/current-mortgage-rates/) in the low-6% range are making costs slightly more manageable compared to the past two fall seasons. Zillow suggests that "patient" shoppers can potentially find a good deal on a home purchase when sellers cut prices on homes that have lingered on the market. The smallest median home price discounts are mainly found in more affordable metros with a solid pace of home sales. Oklahoma City (-$15,000), Louisville, Kentucky (-$15,000) and St. Louis (-$15,100) topped that list. But where are the *largest* price cuts? ## 10 metros where sellers are offering huge home price cuts Of the 50 largest metro statistical areas, or MSAs, these are the cities with the largest median price cuts in October, according to Zillow: 1. San Jose, California: -$70,900 2. Los Angeles: -$61,000 3. San Francisco: -$59,001 4. New York: -$50,000 5. San Diego: -$50,000 6. Boston: -$49,900 7. Seattle: -$41,000 8. Austin, Texas: -$36,000 9. Portland, Oregon: -$31,901 10. Sacramento, California: -$30,900 It's not surprising that many of the most expensive markets are at the top of this list. In San Jose, which ranks first, the typical sale price is over $1.3 million, which is nearly four times the typical U.S. home price, according to Zillow data. By nature, home price cuts will often be larger in such an expensive city. In more affordable housing markets, "smaller cuts can represent a bigger relative discount for buyers," Zillow explains in the report. For example, the median price cut of $70,900 in San Jose is only around 5% of the typical home value. In other words, when you consider the context of home prices, those pricey West Coast and Northeast markets no longer dominate the list. Relative to home values, these are the five markets with the largest discounts in October: 1. Pittsburgh (about -9% of the typical home value) 2. New Orleans (-9%) 3. Austin, Texas (-8.4%) 4. Houston (-8.2%) 5. San Antonio (-7.9%) ## Buy your home with more convenience and less hassle ![View Rates](https://s3.consumersadvocate.org/prd/image/image/38130/medium_29a2a129-cf1d-4fcb-a92d-901b0c9bf0f6.webp) Our Partner [View Rates](https://money.com/go/df247bb00814?bidid=4029170035&pmeta=p129-c488-u36862&ptid=662231112&ptoken=da379971a8f36963c03edc5b0360ebfa) ![View Rates](https://s3.consumersadvocate.org/prd/image/image/39711/medium_85521de9-b6c5-4b35-a129-169c217d0287.webp) Our Partner [View Rates](https://money.com/go/b7d20ac6ae15?bidid=4029170041&pmeta=p129-c488-u36862&ptid=662231112&ptoken=0017cf547fa21de6fa18a16717864f3e) ![View Rates](https://s3.consumersadvocate.org/prd/image/image/34120/medium_4ba40e39-00f6-4f3e-9a12-67943aa4166f.webp) Our Partner [View Rates](https://money.com/go/3ece0efd33bd?bidid=4029170039&pmeta=p129-c488-u36862&ptid=662231112&ptoken=82ba51ee5225f8c8c3e383a1e38cf70e) ![](https://s3.consumersadvocate.org/prd/image/image/26681/medium_57f09f10-efb8-487d-a73e-5f7d605144eb.png) Imagine finally owning your dream home — Rocket Mortgage (NMLS #3030) can help! [View Rates](https://money.com/pr/t39f99e0e0ab?ap_referrer=%2Fbig-home-price-cuts%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/big-home-price-cuts/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Housing", "item": "https://money.com/housing/" }, { "@type": "ListItem", "position": 3, "name": "Home Prices", "item": "https://money.com/home-prices/" }, { "@type": "ListItem", "position": 4, "name": "Home Sellers Are Slashing Prices in These Big Cities" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/big-home-price-cuts/#webpage", "url": "https://money.com/big-home-price-cuts/", "name": "Home Sellers Are Slashing Prices in These Big Cities", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2025-11-26T15:31:06.000Z", "mainEntity": { "@id": "https://money.com/big-home-price-cuts/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/big-home-price-cuts/#breadcrumb" }, "dateModified": "2025-11-26T15:31:06.000Z" }, { "@type": "NewsArticle", "headline": "Home Sellers Are Slashing Prices in These Big Cities", "articleSection": "Housing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2025/11/News-Housing-Markets-Price-Drops.jpg", "width": 2880, "height": 1920, "caption": "News-Housing-Markets-Price-Drops" } ], "author": [ { "@type": "Person", "name": "Pete Grieve", "url": "https://money.com/author/pete-grieve/", "@id": "https://money.com/author/pete-grieve/#author", "description": "Pete Grieve is a personal finance reporter at Money who frequently covers news stories about housing topics including home buying, mortgage rates and homeowners insurance.", "image": "https://img.money.com/2023/02/peter.png?w=350&h=430&crop=1", "email": "peter.grieve@money.com", "jobTitle": "Lead News Reporter", "alumniOf": "University of Chicago, BA Political Science", "sameAs": [ "https://twitter.com/pete_grieve", "https://linkedin.com/in/pete-grieve-b5aa02138", "https://www.facebook.com/petegrieve4" ], "worksFor": { "@id": "https://money.com/#organization" } } ], "publisher": "https://money.com/#organization", "datePublished": "2025-11-26T15:31:06.000Z", "description": "Zillow reports major metros offering steep home price cuts, with discounts up to $70,900 as inventory grows and buyers gain leverage.", "abstract": "Zillow reports major metros offering steep home price cuts, with discounts up to $70,900 as inventory grows and buyers gain leverage.", "@id": "https://money.com/big-home-price-cuts/", "inLanguage": "en-US", "dateModified": "2025-11-26T15:31:06.000Z", "editor": [ { "@type": "Person", "name": "Katherine Peach", "url": "https://money.com/author/katherine-peach/", "@id": "https://money.com/author/katherine-peach/#author", "description": "Katherine Peach is an associate editor with a focus on news and email at Money. 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