U.S. Home Sellers Cut Prices on 20% of Listings as Pending Sales Rise 1.3%
Updated
Updated · National Mortgage Professional · Aug 3
U.S. Home Sellers Cut Prices on 20% of Listings as Pending Sales Rise 1.3%
3 articles · Updated · National Mortgage Professional · Aug 3
Summary
One in five active U.S. listings carried a price cut in July, while pending sales rose 1.3% from a year earlier for an eighth straight monthly gain, according to Realtor.com.
The national median list price fell 2.4% to $428,950—its ninth annual decline—as higher mortgage rates kept affordability strained and summer demand cooled.
Homes spent a median 57 days on market, four days longer than June but one day faster than July 2025, the first annual improvement after 26 months of slower sales.
Inventory rose 2.1% year over year to about 1.13 million listings, still 11.6% below 2017-2019 norms, while new listings were flat from a year earlier and down 8.6% from June.
Realtor.com said August will test whether price cuts keep buyers engaged or instead signal softer demand, especially if mortgage rates stay above its roughly 6.3% forecast.