"Sellers are responding, and these areas—concentrated in the South and West—show the highest share of price cuts, with more than 1 in 4 listings in each market having a price reduction," Realtor.com's chief economist Danielle Hale said in the report.
MYSA writes, "In the market for a new home? What better place than right here in Central Texas.
Two Texas cities ranked among the best in the nation for the largest price slashes within their respective housing markets, marking a real estate haven for first-time homebuyers and more experienced house hunters, according to a report from Realtor.com released on Monday, June 23. Both the South and the West led the way in the biggest cost cuts, with Phoenix ranking supreme with 31.3% of its Arizona home listings featuring a price cut.
Coming in second was Tampa with a 29.9% slash in home listing costs, with Denver trailing slightly behind at a 29.4% share of listings featuring reduced prices. In fourth place, Texas made its mark with the capital city, Austin, boasting 29.2% of its home listings including a price cut, edging ahead of Jacksonville's 28.8%.
While Austin might not have earned the crowning spot for its price slashes, the capital city did set the record for the largest new listings count growth year over year, with its latest listings surging 13.2% between May 2024 and May 2025, per Realtor.com's analysis. Alongside its new listings hike, Austin's overall for-sale properties jumped 26.5% year over year and its median home prices dipped more than 6%, the largest annual price drop reported in the country.
Unsurprisingly, Austin's real estate construction boom during the COVID-19 pandemic helped spur its inventory spikes and price drops, with the Texas capital now welcoming a whopping 60% more inventory in 2025 compared to pre-pandemic figures in 2019. That added inventory, coupled with decreased demands and longer days on the market, has resulted in price slashes dropping home costs in Central Texas' weirdest city.
Elsewhere in the Top 10 was Dallas, ranking No. 8 with a 27% share of listings including a reduced price tag. It also followed slightly behind Austin, but led the rest of the Top 10 roundup, in housing the second-largest increase in new listings in May, with a reported 12.1% growth."
Source: MYSA
Written by: Kelsey Thompson
Published: June 24, 2025
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