Statistics · 2026 · Real Estate
Price Reduction Statistics (2026)
Realtor.com reports that 20.8% of U.S. listings had a price cut in September 2026, 0.9 percentage points above a year earlier and the highest monthly share since October 2022. Across 789 metros with 100 or more listings, the median metro sits at 19.9%, and shares run from 4.8% to 35.7%. A price cut changes a listing's asking price; it does not measure what homes sell for.
Key takeaways
- Realtor.com reports 20.8% of listings had a price cut in September 2026, up 0.9 points from September 2025.
- The median metro with 100 or more listings has 19.9% of listings cut.
- New Castle, IN has the highest share at 35.7%, while Kapaa, HI has the lowest at 4.8%.
- Metros with fast-growing inventory have a 1.8-point higher median cut share than metros with shrinking inventory; this is a correlation, not a cause.
- The most cut-heavy quartile of metros has a median list-price change of −0.8% year over year; price cuts do not equal falling sale prices.
What share of homes for sale have a price cut?
About one in five. Realtor.com reports that 20.8% of U.S. listings had a price cut in September 2026, and Redfin reports 21.1% for the four weeks ending September 20. The two measures use different windows and methods. In WealthyBud's data the median metro with 100 or more listings has 19.9% of listings cut.
1. Realtor.com: 20.8% of listings had a price cut in September 2026
The Realtor.com Research September 2026 housing report puts the share at 20.8%, up 0.5 points from August and 0.9 points from September 2025. It is the highest price cut share in a single month since October 2022 and the highest September reading since 2018.
2. Redfin: 21.1% of active listings had a price drop in four weeks ending September 20
Redfin reports that just over one in five U.S. sellers with active listings cut their asking price, against 19.8% a year earlier, and calls it the highest share for that time of year in its records, which start in 2022. Redfin uses a four-week MLS window, not a calendar month.
3. Every region is above its year-ago rate: Northeast (15.2%), Midwest (20.7%), South (21.6%), West (22.8%)
Per Realtor.com, the West's rise of 1.8 points is the largest of the four. 36 of the 50 largest metros are above their year-ago cut rate, up from 27 in August.
4. Median metro price-cut share: 19.9%
Among 789 metros with 100 or more active listings, 329 sit above the national 20.8% and 460 at or below it. 151 metros with fewer than 100 active listings are left out of every ranking (WealthyBud data · 789 metros · Realtor.com listings · September 2026).
5. Metro shares range from 4.8% to 35.7%
103 metros have cuts on a quarter or more of listings, and 15 have cuts on fewer than one in ten (WealthyBud data · 789 metros · Realtor.com listings · September 2026).
Which metros have the most price cuts?
New Castle, IN has the highest price-cut share at 35.67%, followed by Salt Lake City, UT at 33.61% and Eugene, OR at 33.56%. The ranking covers 789 metros with 100 or more active listings; the leader has only 146 listings, so read it as a small-market result.
6. New Castle, IN leads at 35.7% of listings with a price cut
The top three are New Castle, IN, Salt Lake City, UT and Eugene, OR. 4 of the top ten have fewer than 500 active listings, and 10 are at 30% or higher (WealthyBud data · 789 metros · Realtor.com listings · September 2026).
7. Oregon holds 4 of the 10 highest price-cut shares
The top ten spans 6 states: OR (4), UT (2), CO (1), IN (1), TX (1), WA (1) (WealthyBud data · 789 metros · Realtor.com listings · September 2026).
8. Realtor.com's 50-metro report: Salt Lake City (33.3%), Denver (31.5%) and Portland (31.3%)
These are the most common price-cut shares among the 50 largest metros in the September 2026 report. WealthyBud's metro extract gives slightly different values for the same metros; the largest gap across the six metros named in the report is 0.6 points (Denver). Rankings on this page use the extract. For the four weeks ending September 20, Redfin puts Denver (30.9%) and Indianapolis (29.9%) highest among the 50 largest metros.
| Metro | Listings with a price cut | Active listings | Median days on market | Median list price, year over year |
|---|---|---|---|---|
| 1. New Castle, IN | 35.67% | 146 | 56 days | −15.9% |
| 2. Salt Lake City, UT | 33.61% | 3,923 | 58 days | −3.6% |
| 3. Eugene, OR | 33.56% | 1,034 | 63 days | +1.6% |
| 4. Ogden, UT | 33.20% | 2,067 | 58 days | −1.9% |
| 5. Albany, OR | 32.43% | 437 | 62 days | −5.3% |
| 6. Denver, CO | 32.11% | 13,365 | 58 days | −4.9% |
| 7. Jacksonville, TX | 31.91% | 260 | 75 days | −16.5% |
| 8. Longview, WA | 31.72% | 430 | 66 days | +0.7% |
| 9. Portland, OR | 31.61% | 8,984 | 66 days | −1.9% |
| 10. Salem, OR | 31.05% | 1,533 | 65 days | −2.3% |
See cooling and heating metros side by side
Which metros have the fewest price cuts?
Kapaa, HI has the lowest price-cut share at 4.8%, then Rochester, NY at 5.9% and The Hamptons, NY at 6.1%. The ranking covers 789 metros with 100 or more active listings. Realtor.com's report names New York as the least cut-prone of the 50 largest metros.
9. Kapaa, HI is lowest at 4.8% of listings with a price cut
The three lowest are Kapaa, HI, Rochester, NY and The Hamptons, NY. New York holds 3 of the ten lowest shares (WealthyBud data · 789 metros · Realtor.com listings · September 2026).
10. Realtor.com: least common in New York (9.9%), Hartford (12.3%) and Buffalo (13.0%)
The September 2026 report lists these as the three lowest among the 50 largest metros.
- Kapaa, HI has 4.80% of its 385 active listings cut.
- Rochester, NY has 5.90% of its 1,198 active listings cut.
- The Hamptons, NY has 6.13% of its 224 active listings cut.
- Camden, AR has 6.91% of its 111 active listings cut.
- Rio Grande City, TX has 7.22% of its 137 active listings cut.
Are price cuts tied to rising inventory?
The link is weak. Metros where active listings grew more than 10% year over year have a median price-cut share of 20.5%, against 18.8% where listings fell, and the correlation across 789 metros is 0.12. This is a correlation; the data cannot say which factor drives the other.
11. Median cut share is 20.5% where inventory grew over 10%, 18.8% where it fell
The 369 metros with listings up more than 10% year over year are compared with the 201 where listings fell; the 215 with growth of 10% or less have a median of 19.7%, and 4 unchanged metros are counted separately. The Pearson correlation across 789 metros is 0.12, which is weak. All 789 guarded metros report a change (WealthyBud data · 789 metros · Realtor.com listings · September 2026).
12. Nationally, listings rose 5.4% and price cuts rose 0.9 points
Both measures are higher than a year earlier in Realtor.com's data. For supply data see housing inventory statistics.
Do price cuts mean prices are falling?
Not by themselves. A price cut lowers one listing's asking price; it does not measure what homes sell for. Realtor.com reports the median listing price at $419,250, −1.4% year over year. Across metros, the most cut-heavy quartile has a median list-price change of −0.8%, against −0.3% for the least cut-heavy.
13. Median listing price $419,250, −1.4% from a year earlier
The Realtor.com summary table reports this for September 2026. Listing prices are asking prices; closed sale prices are a separate series covered in home price appreciation statistics.
14. Median list-price change by quartile runs −0.30%, +0.02%, −1.44%, −0.83%
Metros sorted by cut share and split into four groups do not show a steady slide in list prices as cuts rise; the correlation is −0.04 (negligible). 8 metros report no change and are kept (WealthyBud data · 789 metros · Realtor.com listings · September 2026).
| Price-cut quartile | Share of listings cut | Metros | Median list price, year over year | Metros with falling list price |
|---|---|---|---|---|
| Quartile 1 (fewest cuts) | 4.8% to 16.7% | 197 | −0.30% | 53% |
| Quartile 2 | 16.7% to 19.9% | 197 | +0.02% | 48% |
| Quartile 3 | 19.9% to 22.9% | 197 | −1.44% | 57% |
| Quartile 4 (most cuts) | 22.9% to 35.7% | 198 | −0.83% | 59% |
15. 429 of 789 metros (54%) have a lower median list price than a year ago
The median metro's list-price change is −0.59%. For how long cut listings sit, see days on market statistics (WealthyBud data · 789 metros · Realtor.com listings · September 2026).
16. Redfin: a rising price-drop share usually signals overpricing, but not this time
Redfin writes that a rising share of sellers dropping prices typically means they priced too high and a soft market forced a correction, but that this time the rate has risen only marginally because some sellers delist or price realistically from the start. For forward-looking estimates, see home price forecast statistics.
Which states have the most price cuts?
Maine has the highest median price-cut share at 29.3%, followed by Oregon at 25.5% and Tennessee at 24.1%. The ranking covers 47 states with at least three metros of 100 or more listings. Hawaii has the lowest median at 13.4%.
17. Maine leads states at a 29.3% median price-cut share
The top three states are Maine (29.3%, 4 metros), Oregon (25.5%, 18 metros) and Tennessee (24.1%, 26 metros). Each figure is the median of a state's metro shares, not a state-wide share. 4 states with fewer than three qualifying metros are left out; a metro in two states counts under its principal city's state (WealthyBud data · 783 metros · Realtor.com listings · September 2026).
18. Hawaii is lowest at 13.4%
The three lowest are Hawaii (13.4%, 4 metros), Nebraska (14.7%, 10 metros) and New York (14.8%, 25 metros). 13 of the 47 ranked states have a median above the national 20.8% from Realtor.com; the national figure counts all listings, so the comparison is a rough guide (WealthyBud data · 783 metros · Realtor.com listings · September 2026).
What this means for buyers, sellers and investors
For buyers, a cut price is a negotiating signal, not proof that a neighborhood is falling. Check the cut history and days on market of any home you consider.
For sellers, the share of listings cut ranges from 4.8% to 35.7% across 789 metros, so check your own market before you set a first price.
For investors, treat price cuts as one input next to supply and rates. The momentum dashboard shows cooling and heating metros, and home sales statistics covers closed deals.
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