The summer housing market is gradually turning more buyer-friendly—especially in two inventory-rich regions where sellers are increasingly slashing prices in a bid to offload properties.
Economists at Realtor.com® analyzed June 2025 housing data from the largest U.S. metros and identified the 10 markets boasting the highest shares of for-sale homes with price reductions, offering house hunters the opportunity to snag properties below the original asking price.
Notably, all the metros in the ranking are located either in the South or the West—areas where the housing market has been sluggish in recent months due to a combination of surging supply and decreasing buyer demand.
“Sellers in these markets are often listing their homes at prices higher than the market can bear, and being forced to adjust when they don’t sell as quickly as hoped for,” explains Relator.com senior economist Joel Berner.
Topping the list is Denver, where roughly 1 out of 3 listed homes in June came with a price cut in an apparent attempt to draw reluctant buyers.
The typical residential property in “Mile High City” cost $609,950, down 3.6% compared with a year ago, and waited 45 days for a buyer last month, according to the latest housing market trends report.
Excessive supply vs. insufficient demand
Perhaps unsurprisingly, Denver has led the nation in inventory recovery, with supply surging more than 88% from the pre-pandemic era. However, buyer demand has not kept pace, resulting in a glut of unsold homes—and forcing many sellers to slash prices.
A similar scenario has unfolded in Phoenix, where nearly a third of all listings had price reductions last month—the second-highest share among major U.S. metros.
The Western pandemic-era boomtown saw its median home price decrease 3% year over year, dropping down to $520,000.
Additionally, Phoenix stood out for having the nation’s highest absolute number of delistings in May, as many local sellers opted to take their homes off the market rather than compromise on their asking price in a climate of buyer wariness fueled by economic uncertainty and elevated mortgage interest rates.
For sellers who cannot just take their ball and go home, cutting the asking price might be the only play left.
“Supply is outpacing demand in these markets, and sellers who don’t have the choice to delist because they have to move for life reasons are being forced to take less for their home than they anticipated,” says Berner.
Austin, TX, is in the same boat as Denver and Phoenix owing to its surging inventory, which climbed nearly 70% compared with the city’s 2019 norms.
Faced with slower buyer demand, the bustling economic hub saw its share of listings with price cuts reach 32.3% in June, the third-highest level in the U.S.
Tampa, FL, and Dallas ranked fourth and fifth, respectively, for the share of for-sale homes offering discounts, topping 30% for both metros.
Beyond the top five metros offering the steepest reductions, budget-conscious homebuyers can still save big in places like Colorado Springs, CO, Jacksonville, FL, Portland, OR, Salt Lake City, and Charleston, SC.
While this trend spells bad news for sellers in the oversupplied regions, Berner says that buyers have an opportunity to get a great deal—especially if they can make a purchase mostly in cash and sidestep the current high mortgage rates.
“If mortgage rates fall, we expect buyer activity to pick back up and for price reductions to slow down,” he notes.
1. Denver
Share of listings with price cuts: 33.7%
Median listing price: $609,950
Price change year-over-year (YoY): -3.6%
Median days on market: 45
2. Phoenix
Share of listings with price cuts: 33.2%
Median listing price: $520,000
Price change year-over-year (YoY): -3%
Median days on market: 65
3. Austin, TX
Share of listings with price cuts: 32.3%
Median listing price: $524,950
Price change year-over-year (YoY): -4.5%
Median days on market: 58
4. Tampa, FL
Share of listings with price cuts: 31.2%
Median listing price: $419,000
Price change year-over-year (YoY): -1.4%
Median days on market: 48
5. Dallas
Share of listings with price cuts: 30.6%
Median listing price: $440,000
Price change year-over-year (YoY): -2.3%
Median days on market: 50
6. Colorado Springs, CO
Share of listings with price cuts: 30.2%
Median listing price: $515,000
Price change year-over-year (YoY): -1.5%
Median days on market: 43
7. Jacksonville, FL
Share of listings with price cuts: 30.1%
Median listing price: $408,995
Price change year-over-year (YoY): -2.6%
Median days on market: 67
8. Portland, OR
Share of listings with price cuts: 29.6%
Median listing price: $615,000
Price change year-over-year (YoY): -1.6%
Median days on market: 49
9. Salt Lake City
Share of listings with price cuts: 28.8%
Median listing price: $595,000
Price change year-over-year (YoY): -1.2%
Median days on market: 48
10. Charleston, SC
Share of listings with price cuts: 28.5%
Median listing price: $535,000
Price change year-over-year (YoY): 1.1%
Median days on market: 50
Source: yahoo.com
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