Price Cuts
The share of for-sale listings in a market that have had their asking price cut, and how that share is moving.
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The share of active for-sale listings in a market that have had their asking price reduced at least once.
realtor.com defines a price reduction as a listing "which had their price reduced in a given market during the month" (Housing Inventory: Price Reduced Count in the United States). The share reported here is that count expressed against the month's active listings, so it reads as a rate rather than a raw tally, and is comparable between a market with a hundred listings and one with a thousand.
A rising price-cut share describes sellers pulling back on their opening ask more often than before — a signal that listings are sitting without offers at the price first quoted. A falling share describes the opposite: sellers holding their price, or buyers accepting it without much negotiation. It is a measure of seller behavior on the listings realtor.com tracks, not of completed sales or of how much any individual price was cut.
Metrics in this family#
Considerations#
This tracks listing behavior, not transactions. A price cut does not mean a home sold for less, or sold at all — it means the asking price posted online changed. Markets differ in how commonly sellers list high and expect to negotiate down, so a market's baseline level of price-cut activity is not directly comparable to another market's baseline; the trend and seasonal-norm readings, which compare a place against itself, are more reliable than the level alone.
Smaller geographies rest on fewer listings. Many ZIP codes carry a modest number of active listings in any given month, so at ZIP grain this share can move on a handful of sellers' decisions. County and metro readings pool more listings and are steadier.
Census tracts have no realtor.com listings of their own. realtor.com publishes at ZIP code, county and metro; a tract's reading is assembled from the ZIP codes that overlap it. A tract split across ZIP codes with different price-cut behavior takes a blended value that is smoother than any single ZIP code within it.
Puerto Rico is absent. realtor.com publishes no Puerto Rico rows at any geography. Connecticut is already restated onto its current planning regions rather than its former counties.
Vendor methodology changed in 2022. realtor.com revised how it detects time-on-market and handles duplicate listings; realtor.com states that its published historical series now applies the revised methodology consistently, so the loaded history does not carry a break at that point.
References#
- 1Housing Inventory: Price Reduced Count in the United Stateshttps://fred.stlouisfed.org/series/PRIREDCOUUS