These 2 Texas metros offer some of the biggest home price cuts this summer. See which
Overall, the South and West are brimming with options and big deals, according to a study by Realtor.com. The real estate website gathered data in May 2025 on the share of listings offering price cuts, which is a key indicator of a buyer-friendly market. May figures for the median list prices and the median days on the market were also collected to determine the country's 10 metros with the largest price cuts.
Here's what data reveals about the current housing market.
Realtor.com found the South and West generally offered more choices to house hunters. New listings, which measure the number of owners putting homes up for sale, have increased by 3.8% from the same period last year.
"A growing number of for-sale homes in some markets is helping to rebalance the market, giving buyers more negotiating room than they've seen in several years," Realtor.com Chief Economist Danielle Hale said.
Phoenix, Arizona, was the metro with the highest share of listings with a price cut (31.3%). The median days a Phoenix home spent on the market was 58 — a full week longer than the national median. Tampa, Florida, ranked second with 29.9% of listings having a price cut and 60 days as the median time a home spent on the market.
Tampa also had a median list price of $417,500, more than $20,000 below the national median.
Denver, Colorado, ranked No. 3 in the list, with the largest increase in active listings among the top 10 metros at 63.9%. However, Denver also had the second-highest median list price among the group.
Despite pandemic-era construction booms, demand has faded as mortgage rates rise and the economy remains uncertain. This has prompted sellers to significantly lower their asking prices.
In Austin, the number of new listings skyrocketed 13.2% from May 2024 to May 2025 — the most of any metro on the top 10 list.
The overall inventory of for-sale properties in Austin also increased by 26.5% as the median price declined by 6.3% to $525,000. This was the biggest annual drop among the 50 largest U.S. metros, according to the Realtor.com May 2025 Monthly Housing Market Trends Report. As of May, 29.2% of all listings in the Texas capital offered price reductions.
A construction spree during the peak of COVID-19 resulted in over 60% more active inventory in Austin compared to 2019. Now that this excess of homes has lingered on the market for over six years, prices have softened.
"Sellers are responding, and these areas — concentrated in the South and West — show the highest share of price cuts, with more than 1 in 4 listings in each market having a price reduction," Hale said.
Austin isn't the only Texas metro that made Realtor.com's list. Dallas ranked No. 8, with a massive surge in active listings second only to Denver.
Rank
Metro
State
Median list price
Active listings
Days on the market
Share of listings with a price cut
1
Phoenix
Arizona
$525,000
23.1%
58
31.3%
2
Tampa
Florida
$417,500
31.2%
60
29.9%
3
Denver
Colorado
$600,000
63.9%
38
29.4%
4
Austin
Texas
$525,000
26.5%
46
29.2%
5
Jacksonville
Florida
$405,000
31.2%
60
28.8%
6
Charleston
South Carolina
$539,000
36%
45
27.3%
7
Salt Lake City
Utah
$585,000
38.2%
44
27.1%
8
Dallas
Texas
$440,000
44.8%
45
27%
9
Palm Bay
Florida
$389,000
24.5%
65
27%
10
Portland
Oregon
$610,707
34.3%
44
26.8%
This article originally appeared on Austin American-Statesman: 2 Texas metros offer some of the biggest home price cuts this summer
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