Rising inventory and steep price cuts in South and West US metros as sellers grow desperate to offload homes

The US housing market is cooling, with 33 of the 50 largest metros seeing price cuts, especially in the South and West due to rising inventory and longer market times. The Northeast and Midwest remain steadier with stronger seller pricing power. Cities like Austin, Miami, Chicago, and Los Angeles saw notable price drops. De-listings rose 48% year-over-year, and home sales hit a 16-year low, with Florida facing significant market weakness.

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