More Than One-Third of Home Sellers Cut Their Asking Price in April

Seattle, WA, May 20, 2026-More than one-third (35.4%) of U.S. home sellers cut their asking price in April, reports Redfin. That’s down slightly from 35.6% a month earlier on a seasonally adjusted basis, and down from a record high of 36.6% in August.

Price cuts have become slightly less common because the housing market is picking up as homebuyer demand rises, which is helping sellers regain some negotiating power. Buyers are slowly returning as the job market improves, and Americans become a bit more confident in their earnings. They are still outnumbered by sellers (which is why price drops are still more common than they were during the pandemic homebuying frenzy), but slightly less so than before, which is shifting the balance of power. 

At the same time, inventory is growing slower than last year in some markets. There are still more homes for sale in most places, but the surge in listings that gave buyers maximum negotiating power last year has cooled. With competition among sellers easing a bit, fewer sellers feel pressure to slash prices to attract offers. 

Finally, more home sellers are pricing their homes realistically from the start, adjusting their expectations after a few years of slow homebuying demand. When homes are priced more in line with the market from the moment of listing, a seller is less likely to resort to a price drop. 

“Earlier this year and throughout much of last year, homes were lingering on the market and price drops were fairly common as sellers worked to attract buyers. But as we head toward summer, the market is moving into a much stronger position,” said Justin Gomez, a Redfin Premier agent in Omaha, Nebraska. “Sellers have become more in tune with current market conditions and are pricing their homes more accurately from the start. At the same time, buyer demand has picked up significantly across nearly all price points. In recent weeks, I’ve seen bidding wars on homes at all price points.”