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Published: Aug 29, 2022 4 min read
Real-estate agent showing a home for sale to a mother and daughter
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Homebuyers, rejoice: Price cuts are popping up on more houses for sale across the U.S., offering long-awaited relief following two years of fierce competition.

Data released last week by the real estate brokerage Redfin shows more than 15% of home sellers dropped their asking price in nearly 100 big cities, with price cuts especially likely in spots that were hot housing markets during the pandemic. In the eight cities topping the list, more than half of homes for sale saw price cuts in July.

The findings go hand in hand with the slow disappearance of bidding wars, which have plagued homebuyers during the housing boom, and a general cooling off of the housing market.