Home Sellers Are Cutting Prices at a Record Rate to Lure Skittish Buyers

SEATTLE--(BUSINESS WIRE)-- #housingmarket--One of every six (16.7%) U.S. home sellers dropped their asking price in August, up from 15.9% a year earlier and the highest share for that month in records dating back to 2012. That's according to a new report from Redfin, the real estate brokerage powered by Rocket. August saw the highest share for any time of year except the previous two months, when the portion of listings with a price cut hit 16.8% (June) and 17.4% (July). Note that the share of listings with ...