US Home Sellers Cutting Prices Hits Highest Level Since 2019
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The number of home sellers lowering prices has reached the highest level since October 2019, the latest sign that the housing market is slowing from its once-frenzied pandemic pace.
Nearly one in five sellers dropped prices during the four week period ended May 22, Redfin Corp. said in a report Thursday. Other measures of how hot the market is, including a house’s time on market and the percentage of homes selling above listing price, have also plateaued.