The Highest September Share On Record Of Home Listings Now Carry A Price Cut At 20.8% And Sellers Are Handing Out Concessions In Nearly Half Of Sales

For several years, the story in housing was that sellers held every card. Bidding wars, waived inspections and homes gone in a weekend made buyers feel like they were shouting into the wind. The latest numbers suggest the mood is changing, and anyone thinking about buying or selling should pay attention.

A large two story house with a covered porch.

According to an October 7, 2026 report from RISMedia using Realtor.com data, 20.8% of active listings had a price cut in September. That is the highest September share on record, and it is up 0.9 percentage points from a year earlier. The word record applies to September readings only, but it still tells you plenty about how sellers are adjusting.

More homes, slower sales

The same report says active listings rose 5.4% to more than 1,161,000. That is still 9.1% below pre-pandemic levels, so the market has not become flooded with homes. But the selection is better than it was, and buyers can afford to be pickier.

The median list price was $419,250, down 1.4% from a year ago. Homes spent a median of 61 days on the market. Two months is a long time compared with the lightning fast sales of recent memory, and it gives buyers breathing room to think, tour a second time and negotiate.

Concessions are everywhere

Price cuts are only one way sellers are sweetening deals. RISMedia also cites Redfin data showing seller concessions in 44.7% of sales in August 2026, up from 42.6% a year earlier. A concession might be a seller agreeing to pay some of the buyer’s closing costs or to cover certain repairs. That is close to half of all sales involving some kind of give.

The number is even higher in one big market. In Dallas, Redfin’s figure was 53.3%, meaning more than half of sales there included a concession. If you live in North Texas, that is a number worth knowing, though remember that it is Redfin’s measure for one month and your own neighborhood may differ.

What buyers can do with this

These figures do not guarantee you a bargain, but they do give you a stronger hand than buyers had not long ago. A few ideas can help you use it well.

Ask about concessions, not just price. Closing cost help can matter as much as a lower sticker price, especially when cash is tight.
Check how long the home has been listed and whether the price has already dropped. A seller who has cut once may be open to more.
Do not skip the inspection. With more leverage, you can ask for repairs or credits for problems it uncovers.
Have your financing lined up. A buyer with a solid approval letter is a more attractive partner, even in a slower market.
Stay disciplined. A good deal on a house you cannot comfortably afford is not a good deal.

How to read a price cut

Not every price cut means the same thing. Sometimes a seller overshot at the start and is simply correcting. Sometimes the seller needs to move for a job or a new home and is eager to close. A buyer cannot always tell which situation they are looking at, so it pays to ask your agent what they know. A friendly question about why the owner is selling, and how flexible they might be, can reveal a lot.

It also helps to compare a home against others nearby, not just against its own earlier price. A home that dropped by a few thousand dollars may still be priced above similar houses down the street. Pull up recent sales within a mile or so and see what neighbors actually got. That comparison is the real test of whether a reduced price is a bargain.

Finally, remember that the numbers in the report are national snapshots. The price cut share, the list price and the days on market describe the country as a whole, and your own town could be hotter or cooler. Treat them as a compass rather than a map.

A reality check for sellers

If you are selling, take these numbers to heart. When about one in five active listings carries a price cut, an overpriced home stands out for the wrong reasons. Buyers and their agents can see price histories, and a listing that keeps getting reduced can look like a home nobody wants.

The better path is usually to price realistically from day one, based on what comparable homes near you have actually sold for. Make the house easy to love with a thorough cleaning, small repairs and good lighting. And consider in advance whether you could offer a concession, since many sellers in this market are doing exactly that to close the deal.

Sellers who list in hopes of last year’s frenzy may be disappointed, but that does not mean selling is a bad idea. Homes still sell. They just sell to buyers who feel they are getting a fair price and a fair deal.

The big picture

RISMedia’s report paints a market that is cooling, not collapsing. Listings are up but still below pre-pandemic levels, prices are slipping slightly, and sellers are bending more than they used to. Whether you are buying or selling, the smart move is to get local advice, look at recent sales near you, and make decisions based on your own finances rather than headlines. In a market where the balance is shifting, preparation is your best advantage.

Willow and Hearth