U.S. HOME SELLERS CUT PRICES AT RECORD PACE

One in five U.S. home sellers, 21.1%, cut their asking price in the four weeks through September 20, up from 19.8% a year earlier and the highest share for this time of year since Redfin started tracking it in 2022. The pressure splits sharply by metro: in Denver, 30.9% of active listings saw a price cut, while in San Francisco, where AI-driven demand keeps buyers competing for scarce homes, only 9.6% did. Builders tracked in the $XHB homebuilders ETF now face resale sellers undercutting list prices nationwide, not just in a handful of overbuilt markets.