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October Sees Record $25K Home Price Cuts Nationwide

11/30/2025

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Summary

Story summary

Zillow reports that October's typical listing price cut averaged $25,000, the largest discounts recorded by Zillow.
The share of listings with price cuts reached 26.9%.
San Jose, Los Angeles, and San Francisco show substantial cumulative discounts.
Markets with lower initial home prices, such as Pittsburgh, show larger relative markdowns.
Kara Ng, Zillow senior economist, says these adjustments align listings with buyers' budgets and contribute to a more active housing market.

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Story summary

Zillow reports that October's typical listing price cut averaged $25,000, the largest discounts recorded by Zillow.
The share of listings with price cuts reached 26.9%.
San Jose, Los Angeles, and San Francisco show substantial cumulative discounts.
Markets with lower initial home prices, such as Pittsburgh, show larger relative markdowns.
Kara Ng, Zillow senior economist, says these adjustments align listings with buyers' budgets and contribute to a more active housing market.