For the first time since 2020, typical monthly mortgage payments are expected to decrease year over year.
price reduction“Sellers there may be quick to cut because they know more listings are likely to come in in the spring, so competition among sellers will be heating up. It’s possible they’re trying to get out ahead of that and undercut others in order to get their home sold—perhaps so the sellers themselves can then turn around and buy their next home.
”“I am seeing more price cuts in Florida markets like Tampa, Jacksonville, and Orlando,” Florida real estate agent and investor Ron Myers, with “Many sellers are still stuck on pandemic pricing, but buyers are no longer willing or able to pay those numbers. Higher interest rates, rising insurance costs, taxes, and HOA fees have made buyers much more careful.”“I am seeing more price cuts in Florida markets like Tampa, Jacksonville, and Orlando,” Florida real estate agent and investor Ron Myers, with Ron Buys Florida Homes, tells Realtor.com. Myers says price cuts can work, but only if the seller gets realistic. “A small cut usually will not move the needle,” he explains. “Florida is seeing so many price cuts because prices ran up fast, and now the market is adjusting to what buyers can actually afford.” “The migration we had in Orlando has dropped over 80% in the past two years,” Orlando real estate agent Brenden Rendo, a strategic real estate adviser at “The influx of people buying up the inventory has stopped, which is one reason we’re seeing so many price cuts in Orlando. Last week alone, we saw 750 price cuts in Orange County, FL.” Meanwhile, the Texas markets that saw the highest share of price cuts in February are San Antonio–New Braunfels, Dallas–Fort Worth–Arlington, and Austin-Round Rock-San Marcos. “Price cuts tend to happen in larger waves around this time as we head into what is typically a robust spring market,” Michael Reisor, founder of “Many of these listings likely launched during the winter, and depending on the level of traffic and buyer feedback they received, listing agents may be advising sellers to make price adjustments now in order to stay competitive as new inventory comes online for the spring peak in Texas,” Reisor explains.“When others have their homes for sale at a higher price, it is hard for sellers not to see that as a sign they can still get the higher amount,” he says.“Price cuts tend to happen in larger waves around this time as we head into what is typically a robust spring market,” Michael Reisor, founder of Reisor Team at Compass in Texas, tells Realtor.com.“Here in San Antonio, our county tax values are still much higher than what homes are selling for. This also gives sellers the false sense their home will sell for the higher amount.”“In Austin, we have been all over the news as the No. 1 major metro to have prices go down, but it is simply because we had the most drastic spike during the pandemic,” Samantha Midler of “Texas had looser restrictions and wide open spaces, so everyone and their mother moved here. It was an artificial demand that was crazy and unsustainable.”In February, two Arizona metros ranked among those with the largest price cuts: Phoenix–Mesa–Chandler, which led the nation, and Tucson. “I am seeing dramatic price cuts in Arizona,” Arizona real estate agent James Sanson, the strategic real estate adviser at “I am seeing dramatic price cuts in Arizona,” Arizona real estate agent James Sanson, the strategic real estate adviser at Real Estate Bees, tells Realtor.com.“The market is very quiet, and things are not selling, so sellers are trying to get into the lower bracket to sell their homes and increase the number of available buyers who can purchase them.” Sanson says that many of these sellers slashing prices are winter visitors who are visiting Phoenix for the last time and want to close this chapter of their lives.“They want to get in front of the quarter rolling down the hill and catch it, rather than chasing it down to the valley.”Even though these particular metros experienced sharp price reductions, nationwide cuts remain below 2025 levels. “Price cuts are slightly down compared to this time last year, even if they’re still on the high side,” says Krimmel. “That’s probably because the market is still relatively soft and starting to tilt more toward buyers.”According to Krimmel, this year’s sellers are listing with more realistic expectations. “We are seeing list prices down in our monthly and weekly data,” he says. “In fact, median list prices in our weekly data have been down by 2% or greater year over year for eight straight weeks now.”“We saw price per square foot dip by 2.6% year over year last week—the greatest decline since Realtor.com started tracking that data series in 2017,” notes Krimmel.“If people are initially listing lower, perhaps they do not need to cut prices as much as they did last year,” Krimmel says. “Sellers may have learned from last year’s slow market.”Owning a mobile home can quietly generate personal wealth, even in the affordability crisis: Study 15M US senior homeowners have no children to leave their house to — but don't expect a 'silver tsunami'"I am seeing more price cuts in Florida markets like Tampa, Jacksonville, and Orlando," Florida real estate agent and investor Ron Myers, with Ron Buys Florida Homes, tells Realtor.com."Price cuts tend to happen in larger waves around this time as we head into what is typically a robust spring market," Michael Reisor, founder of Reisor Team at Compass in Texas, tells Realtor.com."I am seeing dramatic price cuts in Arizona," Arizona real estate agent James Sanson, the strategic real estate adviser at Real Estate Bees, tells Realtor.com.Stream It Or Skip It: ‘Send Help’ on VOD, Sam Raimi’s Return-to-Form Comedy-Thriller, Which Puts Rachel McAdams Through the Wringer
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