Because of the historic inventory shortage, competition for homes has been steep, and prices have been rising sharply in markets across the country as a result.
But according to a recent report, it looks like that’s (finally) starting to change, spelling good news for buyers.
According to recent data from Zillow, 14% of all listings in the United States had a price cut in June 2018, and since the start of the year, the share of listings in the US that had a price cut increased by 1.2 percentage points—the largest January-to-June increase since Zillow started collecting data.