Nearly a third of Phoenix homes for sale had price cuts last April.
While housing costs continue to rise in much of the country, some Sun Belt and Mountain West cities are seeing dramatic drops in home prices, reports Eric Revell for Fox Business.
"Put simply, homes are not moving in these markets," said Realtor.com senior economist Jake Krimmel. In Phoenix, 31.3% of home listings had price cuts in April 2025, while the Tampa metro saw 29.3% of home listings get price cuts. "Data from Realtor.com found that nationally, the share of active listings that carry a price reduction was at 16.7% in April – a figure that is elevated compared with historical trends but is actually lower than a year ago as prices trended toward an equilibrium."
FULL STORY: These 5 cities are seeing big home price cuts
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