This city saw 1 in 3 home sellers slash their asking price in September to attract reluctant buyers

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Intelligence Network • Data Science • AI Research • World News
Published: 2026-10-02T20:41:16.647Z • Permanent link

A new wave of home sellers in the United States is drastically reducing their asking prices in a bid to attract hesitant buyers, according to data from the Bank of America. In September, approximately one in three home sellers cut their prices, marking a significant shift in the market. According to a report by Zillow, home prices in cities such as New York and Los Angeles have dropped by as much as 10% in the past month. This sudden price cut has left many investors and real estate experts scrambling to understand the motivations behind the drastic change.

The trend is believed to be driven by the ongoing supply chain crisis, which has led to a shortage of homes for sale in the United States. Many home sellers are struggling to compete with low inventory levels, and as a result, are forced to reduce their prices to attract potential buyers. For instance, in the San Francisco Bay Area, home prices have dropped by an average of 5% in the past month, according to data from Redfin. This significant decline has left many experts wondering whether the market has reached a tipping point.

Economists at Goldman Sachs have pointed out that the recent surge in home prices was largely driven by speculation, with investors buying up homes in the hopes of flipping them for a profit. However, with the supply of homes for sale dwindling, the market is now shifting towards a more traditional buyer's market. According to data from CoreLogic, home prices in the United States are expected to continue to decline over the next few months, with some experts predicting a 10% drop in prices by the end of the year.

The recent trend of home sellers cutting their prices has significant implications for the Data Sources domain. Companies that provide real estate data and analytics, such as Zillow and Redfin, are likely to be affected by the sudden change in the market. These companies rely on accurate and up-to-date data to inform their pricing models and provide insights to their clients. However, with the market shifting towards a more traditional buyer's market, these companies will need to adapt quickly to avoid being left behind.

The impact of the trend on research communities is also likely to be significant. Economists and researchers who study the real estate market will need to reassess their models and forecasts in light of the recent price cuts. For instance, researchers at the Federal Reserve may need to revise their expectations for housing prices and inflation. The shift in the market also highlights the importance of data accuracy and the need for companies to provide timely and reliable information to their clients.

The broader context of the trend is also worth noting. The supply chain crisis, which has been affecting the real estate market for months, is also having a significant impact on other industries, such as construction and manufacturing. The shortage of homes for sale is just one symptom of a larger problem, and it will be interesting to see how the market responds to the crisis in the coming months.