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Message
42.3% of US home sellers are cutting prices
Posted on 9/18/26 at 10:37 am
Posted on 9/18/26 at 10:37 am
quote:
This morning, 42.3% of US home sellers are cutting prices - the highest read all year, and a break above what looked like stabilization over the last two weeks.
That's up 95 basis points in just 7 days.
Sellers are absorbing recent economic data and shifting behavior in real time.
Buyers: your leverage went up again this week. Ignore sticker prices - anchor to current FMV.
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Sellers are seeing the bump from the Fed, with mortgage rates hanging out around 7%, and are finally realizing they were living in a bubble.
I just want to point out that just two days ago, economic genius Rip Torner informed us all that rising borrowing costs would do nothing to correct high house prices. He told us that despite many markets across the country already being in a correction, and some down as far as 20% from their Covid buying frenzy ATH.
Posted on 9/18/26 at 10:40 am to stout
We have a lot of economists and constitutional lawyers on this board, it’s pretty incredible
Posted on 9/18/26 at 10:41 am to stout
No kidding. Sellers are asking too much.
Posted on 9/18/26 at 10:45 am to Bestbank Tiger
quote:
Sellers are asking too much.
Labor and housing materials have gone up. Many sellers aren't keen on losing money. Why would I want to sell a 2000 sq ft home for 300k if it costs 350 to build the same home?
Posted on 9/18/26 at 10:47 am to Azkiger
I just bought my first house. I turned 41 and had a kid, sick of moving and renting. Prob could have got it cheaper but meh.. Houston, energy corridor 1978 w a pool. It’s whatever
Posted on 9/18/26 at 10:47 am to stout
quote:
42.3% of US home sellers are cutting prices
Let's remove another 15-20 million illegals from the US and pass legislation to limit the how much real estate assets institutional investors can control and you'll see home prices drop by 10-20%
Posted on 9/18/26 at 10:48 am to Azkiger
quote:
Labor and housing materials have gone up. Many sellers aren't keen on losing money. Why would I want to sell a 2000 sq ft home for 300k if it costs 350 to build the same home?
Understand your point, but why would I want to buy your "used" home for 300K when for only 50K more, I can buy a home and have everything be brand new and have it done the way I want it to? For me, a new home will win out every time.
Posted on 9/18/26 at 10:48 am to Azkiger
quote:
Why would I want to sell a 2000 sq ft home for 300k if it costs 350 to build the same home?
Because life happens. People move for jobs, get sick, get divorced, lose jobs, etc
Also, rising insurance costs are making many people's mortgages unaffordable, and they are getting squeezed. Their options are to take what they can and hope to get something out of it, or at the very least, not destroy their credit for 7 years or let the bank foreclose.
Unless they want to become landlords or can afford two mortgages, they are going to be forced to take a loss.
Posted on 9/18/26 at 10:50 am to stout
quote:
42.3% of US home sellers are cutting prices
Maybe because Offer Pad can’t come in and snatch up SFHs for 200% of the value…?
quote:
Yes, sweeping federal restrictions on large institutional buyers of single-family homes became law in July 2026 via the 21st Century ROAD to Housing Act.
Posted on 9/18/26 at 10:51 am to Friscodog
quote:
...and have it done the way I want it to? For me, a new home will win out every time.
Tell me you've never worked with a contractor without telling me you've never worked with a contractor.
Posted on 9/18/26 at 10:52 am to SallysHuman
That helps, but outside of a few markets, institutional buyers were a very small part of the overall market no matter what fear porn was being spread about them.
Institutional buyers made up roughly 1% of all SFH sales
Mom and pop landlords with under 100 properties make up between 8-11% of all home sales annually
Institutional buyers made up roughly 1% of all SFH sales
Mom and pop landlords with under 100 properties make up between 8-11% of all home sales annually
This post was edited on 9/18/26 at 10:54 am
Posted on 9/18/26 at 10:53 am to Azkiger
quote:
Labor and housing materials have gone up. Many sellers aren't keen on losing money. Why would I want to sell a 2000 sq ft home for 300k if it costs 350 to build the same home?
This.
I was told at least $200 a foot in BR.
I’m not giving my shite away whenever I sell.
This post was edited on 9/18/26 at 10:58 am
Posted on 9/18/26 at 10:53 am to stout
quote:
Because life happens.
Ah, life happens is the economic reason why I have to lose money on a home sale. Its not our government devaluing the dollar. There's no universe where homes retain value, outside of the majority of Anerican history.
Posted on 9/18/26 at 10:54 am to stout
Home is only worth what someone is willing to pay for it
Home selling prices are location dependent
Interest rates are seeing no signs of slowing down
Posters on here who have been wishcasting for a market crash since 2020 still haven’t been correct.
Nobody knows what is going to happen to the housing market a year from now. It’s all conjecture.
Home selling prices are location dependent
Interest rates are seeing no signs of slowing down
Posters on here who have been wishcasting for a market crash since 2020 still haven’t been correct.
Nobody knows what is going to happen to the housing market a year from now. It’s all conjecture.
Posted on 9/18/26 at 10:55 am to stout
quote:
That helps, but outside of a few markets, institutional buyers were a very small part of the overall market no matter what fear porn was being spread about them.
My small subdivision got et up with it. Anecdotal, sure, but I saw it happen. For about two years nearly every house sold was to an institutional buyer for WAY over a normal price. My friends actually sold only because the offer was irresistible.
Posted on 9/18/26 at 10:57 am to stout
Not entirely related to the topic, but for the average person, their home is their wealth. The mantra is that homes appreciate, in general.
so, even if you buy at a bad time (i.e. buy high), should you have any expectation that you'll end up with a house worth more than what you paid for it?
so, even if you buy at a bad time (i.e. buy high), should you have any expectation that you'll end up with a house worth more than what you paid for it?
Posted on 9/18/26 at 10:57 am to Azkiger
quote:
life happens is the economic reason why I have to lose money on a home sale. Its not our government devaluing the dollar.
You’re confusing microeconomics with macroeconomics.
“Life happens” is microeconomics. That explains why you personally had to sell.
Macroeconomics is the bigger picture
Also, If the dollar loses value, home prices usually go up in dollar terms. So if you lost money, it wasn’t because the dollar was devalued. It was because you had to sell at a bad time in the market.
Posted on 9/18/26 at 10:57 am to stout
Dropping the price 20k does absolutely nothing to a 30 year mortgage with 7% interest. The only people who benefit from relatively minimal price decreases and high mortgage rates are cash buyers like yourself. Congrats on more investment opportunities!
Posted on 9/18/26 at 10:59 am to stout
quote:
You’re confusing microeconomics with macroeconomics.
I'm not confusing anything.
The original response that I quoted was "sellers are asking too much".
Does that sound like micro or macroeconomics to you?
quote:
Also, If the dollar loses value, home prices usually go up in dollar terms. So if you lost money, it wasn’t because the dollar was devalued.
Sure it is.
Salary growth rates are always slow. Thats why inflationary spikes always make waves. If they followed one another there would be no problems outside of handling bigger numbers.
This last inflation spike is 100% responsible for this. There are other factors, but that is a major factor.
This post was edited on 9/18/26 at 11:02 am
Posted on 9/18/26 at 11:00 am to Rip Torner
quote:
Dropping the price 20k does absolutely nothing to a 30 year mortgage with 7% interest.
Glad you are back to educate us all with yout lack of understanding and brushing with broad strokes.
$20K on a million-dollar transaction? Peanuts to someone in that range
$20K on a $300K transaction over 30 years at 7% saves around $48K in total payments, but yeah, that is "nothing"
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