As more homes are lingering on the market, and the 30 year fixed mortgage rate not declining quickly, home sellers continued cutting their prices in February and March.

“This high share of price reductions could signal further price softening in the coming months as sellers adjust their expectations to market conditions,” says Realtor.com® Chief Economist Danielle Hale.

The February 2025 Monthly Housing Trends report from Realtor.com reveals that sellers are trying to adapt to the slower market, signaling that a cooldown in price growth could be just around the corner.

The South and West saw the greatest surge in homes with price reductions at 2.1 and 2.5 percentage points, respectively, compared with last year.

So what does this mean for home buyers?  Although rates are not as low as a few years ago, home prices can make up for it.  When it comes to real estate, the sooner you buy, the better because homes do appreciate in value.  Remember from my prior blog, Marry the home, and date the interest rate!

Article credit: Realtor.com