1034 ET - More than one-third (34.2%) of February home sellers lowered their list price, according to Redfin. That's up from 31.5% a year earlier. February home sellers who lowered their list price cut it by an average of $40,915, or 7.3%. Among all February home sellers, the average price cut was $13,463, or 2.4%. Price cuts are on the rise because it's a buyer's market. There are hundreds of thousands more home sellers in the market than buyers because buyers have been spooked by high mortgage rates, high prices and economic uncertainty. When sellers outnumber buyers, buyers can often negotiate on price because they have a lot of options to choose from, Redfin says. Redfin reported last month that relistings are on the rise as home sellers bet on a stronger spring market. (chris.wack@wsj.com)

(END) Dow Jones Newswires

April 09, 2026 10:34 ET (14:34 GMT)

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