21% of Sellers Just Cut Their Price — a Record. Here's the Playbook.
21% of Sellers Just Cut Their Price — a Record. Here's the Playbook.
21% of sellers just cut their price — a record.
Here's the playbook.
According to Redfin, 21% of U.S. home sellers cut their asking price in September — the highest share ever recorded.
This is now a buyer's market in many areas.
For buyers who have been waiting, this creates real opportunity.
Take a $650,000 home as an example.
At a 10% price cut to $585,000 with 10% down at 6.625%:
• Monthly principal & interest: ~$3,362
• You save about $374/month vs. the original price
But in a buyer's market, you may not need to wait for the seller to cut the price first.
You can also:
• Negotiate a 2/1 buydown — Year 1 rate at 4.625%, Year 2 at 5.625%, then 6.625%
→ Year 1 payment: ~$2,705/mo (saves ~$657/mo vs. original)
→ Seller covers the buydown cost as a concession
• Ask for seller concessions toward closing costs or rate buydown
• Compare the full monthly picture — PITI + HOA + insurance — not just price
Price cuts open the door. Strategy decides how much you actually save.
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