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The summer housing market is flooded with homes for sale, and that could work in the favor of buyers in some key cities.
In hopes of offloading their properties, more sellers are slashing prices — and there are 10 markets in particular where potential homeowners should look.
Economists at Realtor.com analyzed June 2025 housing data from the largest US metros and named the areas with the highest shares of for-sale homes that had price reductions.
This means buyers can get a home at below the original asking price.
All the areas are located either in the South or the West — areas that have this year seen a surplus of homes for sale but little buyer demand.
‘Sellers in these markets are often listing their homes at prices higher than the market can bear, and being forced to adjust when they don’t sell as quickly as hoped for,’ said Relator.com senior economist Joel Berner.
Denver landed on top of the list. Roughly one out of three homes listed for sale in June in the Colorado city were forced to slash their price.
The median home price in Denver in June was $555,304, down 3.6 percent or $20,879 from June 2024.
Homes for sale across the US are declining, and in Denver have declined on average $20,879
Denver had the highest share of price cuts with one in three homes seeing numbers slashed
Housing supply in the city has surged more than 88 percent from the pre-pandemic era, but buyer demand is so low that houses are just sitting on the market.
And the gap between sellers and buyers in Denver is only getting larger.
Earlier this year, one local broker told the Daily Mail that buyers are in no rush.
‘They don’t feel like they have to make a snap decision,’ Corcoran managing broker, John Keene, said.
He added that buyers may be hesitating slightly as there was an expectation that rates would come down several times this year, but that has yet to happen.
‘The reality has set in,’ he said.
The second highest share of house price cuts was in Phoenix, AZ, where nearly a third of all listings had price reductions in June.
The median home price there dropped 3 percent to $520,000, down $16,000.
Phoenix is one US city where home prices are being lowered on average by $16,082
Homes in Dallas, Texas, are seeing that sale prices have dropped on average $10,153
There are five times more active listings in Dallas today than there were in 2021
Many sellers refuse to slash prices, instead choosing to remove their listing from the market altogether.
In May, Phoenix had the nation’s highest number of delistings in the US, as many local sellers decided to wait until the economy is better.
For others though, slashing a home’s price is their only option right now.
‘Supply is outpacing demand in these markets, and sellers who don’t have the choice to delist because they have to move for life reasons are being forced to take less for their home than they anticipated,’ Berner, from Realtor.com, said.
Austin, TX, was third on the list for home price cuts.
In June, the share of listings with price cuts was 32.3 percent. The average home listing price is $524,950, down 4.5 percent or $24,256 from June 2024.
Tampa, FL, was fourth for price cuts, with 31.2 percent of homes on the market having lowered their price. The average home there is currently $419,000, down 1.4 percent from June 2024.
Many other parts of the Sunshine State are in trouble too.
Housing economist Amy Nixon has warned of an impending crash in Dallas
Tampa, FL, was fourth for price cuts, with 31.2 percent of homes on the market lowered
Austin was also recently named ‘ground zero’ for a housing crash in the US
Dallas ranked fifth for home price cuts, with 30 percent of homes for sale there lowering their price in June by an average of 2.3 percent year-over-year.
The typical home there is now worth $440,000., down $10,153.
Housing economist Amy Nixon told the Daily Mail last month that the Dallas market is going to see even more price cuts.
As the surplus of current listing grows, Nixon says stubbornly high mortgage rates, a slowdown in domestic migration, and widespread tech layoffs will only cause prices to be slashed even more.
There are five times more active listings in Dallas today than there were in 2021, according to Nixon.
Meanwhile, Berner said it is great news for buyers who can get a deal now, especially if they pay all cash and can avoid a mortgage.
‘If mortgage rates fall, we expect buyer activity to pick back up and for price reductions to slow down,’ he said.
