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You know the market’s cooling off when “price cut” becomes the new "open concept" on listings. Spring might be blooming, but price reductions are sprouting faster than weeds in a neglected backyard.

NEST NUMBERS

PRICE CUTS ABOUND

Story: This spring, 302,260 homes — or a whopping 33.9% of all listings — had a price cut, the highest March percentage in years. That’s nearly one in three homes offering a discount before you even pull out your "let’s negotiate" hat. For context, even during the pandemic, only 18.7% of listings got a price shave in March 2021. Rising mortgage rates since 2022 have tilted the seesaw back toward buyers, especially in overheated Sun Belt markets, while places like the Midwest still cling to seller dominance.

So What? More price cuts mean more leverage for buyers and investors. If you’ve been sitting on the sidelines waiting for sellers to blink first, congratulations, they just did. This trend cracks open the door for better deals, creative offers, and picking up properties that might’ve been overpriced just a few months ago. But beware: not every discount means value — some agents still price high just to "soften" into reality.

What’s Next? Keep an eagle eye on local inventory numbers and price cut percentages heading into summer. If the trend holds — especially with 30-year mortgage rates still flirting with 7% — more listings could turn into mini bidding wars for buyers (a refreshing twist). Watch June’s inventory and price-cut reports: they’ll tell us if this is a full buyer’s market bloom or just a temporary spring fling.

Source: Fast Company

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