Home Listings Priced Below Purchase Price Rose
The national share of home listings priced below their original purchase price increased to 7 percent in September 2026.
Updated on Sept. 22, 2026 in Residential
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As of September 2026, the national share of homes listed for sale below their original purchase price climbed to 7 percent, up from 6.6 percent in early August. This shift reflects growing pressure in housing markets across the United States.
Why it matters
Rising numbers of homes listed below their purchase price stem from weaker buyer demand, higher borrowing costs, and larger housing inventories. Sellers are increasingly cutting asking prices or offering concessions to exit these cooling markets.
Four states exceeded 10 percent of active listings priced below the purchase price: Colorado at 12.4 percent, Hawaii at 11.4 percent, Florida at 11.1 percent, and Arizona at 10.1 percent.
The details
Owners in these regions are frequently utilizing seller concessions, such as rate buydowns or closing cost credits, to attract buyers in a difficult environment. This follows a period of rapid housing price appreciation that occurred between 2020 and 2022.
Timeline
Rapid price appreciation occurred across many markets from 2020 to 2022.
The national share of homes listed below purchase price was 6.6% in early August 2026.
The national share of homes listed below purchase price reached 7% in September 2026.
Culture Shift
This trend marks a clear departure from the rapid appreciation observed during the 2020 to 2022 period. It illustrates a broader societal shift as buyers and sellers grapple with the reality of higher borrowing costs and the cooling of peak market valuations.
Potential homebuyers may find more leverage in current negotiations through price cuts or seller concessions like rate buydowns. For those selling, the data suggests a need for realistic pricing strategies to successfully exit the market.
The takeaway
Understanding your local market competition is essential when navigating a cooling housing environment. Buyers should focus on total costs, while sellers must balance expectations against the current reality of rising inventory.
Further reading
For more on market trends, visit the Residential section.
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