This city saw 1 in 3 home sellers slash their asking price in September to attract reluctant buyers

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Financial Intelligence • Markets • World News • Independent Analysis
Published: 2026-10-02 • Permanent link

Sudden price drops are being reported in several major cities across the United States, with home sellers slashing their asking prices in an effort to attract reluctant buyers. According to data released by the National Association of Realtors, in September, one in three home sellers reduced their asking prices. This trend is particularly evident in cities such as Los Angeles, San Francisco, and Seattle, where home prices have been rising steadily over the past year. The average price cut in these cities has been around 5-7%, with some sellers opting to reduce their prices by as much as 15%.

The implications of this trend are far-reaching, with many experts warning that it could have a significant impact on the housing market. With prices still relatively high, many buyers are finding themselves priced out of the market, leading to a decrease in sales and a slowdown in the housing market as a whole. This, in turn, could have a ripple effect on the broader economy, with potential impacts on the labor market and consumer spending.

Historically, the housing market has been a significant driver of economic growth, with the sector accounting for a substantial portion of GDP. However, in recent years, the market has experienced a significant shift, with prices rising rapidly in many areas. This has led to concerns about affordability and accessibility, with many buyers struggling to compete with cash buyers and investors. The recent price drops in major cities could be a sign that the market is finally starting to correct itself.

As the housing market continues to evolve, it's likely that we'll see more price drops and adjustments in the coming months. What's next for the market is unclear, but one thing is certain: the trend towards more affordable housing options is likely to continue. With the federal government set to release new data on housing affordability next month, investors and buyers will be watching closely to see how the market responds to this new information.