HOUSTON, TX — Price cuts are becoming more common across the U.S. housing market as more homes sit on the market longer and buyers have a wider pool of choices. HousingWire Data shows about 42% of listings have been reduced, a level above the roughly 30% to 35% range usually seen as normal.
At the same time, inventory has grown by about 25,000 units since early August. Median days on market have moved up from 63 to 70, while the median home price has slipped from $449,000 on Aug. 7 to $439,900, a drop of about $9,000 in six weeks.
Houston and Austin show how buyers are using the extra supply
Nimesh Patel, broker-owner of REMAX Fine Properties in Sugar Land, said his work in both Houston and Austin gives him a clear look at markets where buyers now have more selection. He described the environment as one with more choices, but not a place where buyers can ignore pricing altogether.
Patel said some shoppers are still trying to push too far below asking price, including offers 20% or 30% under list that do not lead anywhere. In his view, the dynamic is less a classic buyer’s market and more of a “buyer’s choice market,” especially in Austin, where competition among listings has sharpened the negotiating process.
REMAX Fine Properties reported $678.2 million in 2025 volume across 1,447 transactions to RealTrends Verified.
Austin leads large metros with the highest share of price cuts
HousingWire Data places Austin among the coldest major markets in the country right now. The city has four months of inventory and a median price of $449,990, with 52.5% of listings seeing a price cut, the highest share among large metros in the dataset.
Patel said Austin has worked through a major adjustment after the rapid price growth of the pandemic years. Sellers who bought near the top of the market in 2021, 2022 or 2023 are now facing a harder reality if they try to resell.
He said the recent price corrections have helped steady expectations, but a home bought at the peak can still be tough to move without taking a meaningful loss or concession. In his view, buyers and sellers are both adjusting to a market that no longer looks like the frenzy of a few years ago.
New construction keeps pressure on resale homes in Houston
Houston is also dealing with a heavy supply picture, but new construction is making the competition even sharper. The city has a median price of $370,000, 4.6 months of inventory, and about 40.1% of listings with price cuts.
Patel said builders planned many developments long before current market conditions changed, so they are now trying to move homes and clear inventory. That has led to aggressive pricing and incentives that can outshine resale listings.
He said buyers may find extras such as washers and dryers, refrigerators, blinds and even large rate buy-downs from builders. In his view, that kind of competition should keep pressure on the resale market if new construction keeps drawing demand away.
More inventory means inspections and insurance matter more after a deal is struck
Patel said the growing supply of homes is changing what happens after a contract is signed. Sellers now need to expect inspections, repair requests and the possibility that a buyer can walk away and shop for another house if the deal gets difficult.
That extra leverage matters because buyers know they have options. Patel said buyers can back out and move on to another property when they see a better fit, which makes it harder for sellers to hold firm through negotiations.
He also pointed to insurance as a growing problem in Texas. According to Patel, some buyers are discovering that coverage is much more expensive than expected, and in some cases a home can be hard to insure at all.
Sellers are being pushed to make bigger price moves, not small trims
Patel said sellers who do not get the activity they want should react with a meaningful adjustment rather than a series of tiny reductions. If a $500,000 home does not attract enough attention from marketing, open houses, email campaigns and social media, he said the price may need to move to $475,000 instead of drifting to $490,000.
His point is that the market is rewarding decisive pricing. When homes linger, small cuts may not be enough to reset buyer expectations or create fresh demand, especially when nearby new construction is offering strong incentives.
That broader pattern fits what HousingWire Data is showing nationally: more listings are being discounted, homes are taking longer to sell, and buyers have gained leverage as supply rises faster than demand in many places.
Some markets are still tight even as many metros soften
Not every market is seeing the same amount of slack. At the other end of HousingWire Data’s list, Charleston, West Virginia, has just 0.73 months of inventory and a median price of $229,000, making it one of the tightest markets in the set.
Mansfield, Ohio, also remains short on supply at 0.95 months of inventory and a median price of $225,000. Appleton, Wisconsin, shows a median price of $439,900 and 1.13 months of inventory, while Terre Haute, Indiana, has a $181,950 median price and 1.12 months of inventory.
Even in stronger markets, the national trend is clear: more homes are getting discounted, listings are taking longer to sell, and the balance of power has shifted somewhat toward buyers compared with earlier in the summer.
More on what homes, rents and new builds are doing near you, on RHS Commoner.
