Bloomberg Surveillance · Saturday, September 26, 2026
Sellers are significantly cutting prices on their homes due to a lack of buyers, with one seller having to reduce their price twice by over six figures in just 10 days. This situation is exacerbated by rising mortgage rates, which followed the Federal Reserve's rate hike last week.
“People are having, sellers are having to cut their prices a lot. We talked to one guy who had to cut his price twice, more than six figures in 10 days.”
“The first was when he had an open house and only two people came. The second was after the Fed raised rates last week.”