Affordable Homes Below Asking Price Available in Select U.S. Cities
In a surprising turn of events, the housing market is cooling down in several major cities across the United States, with Denver leading the pack. According to a recent analysis of June 2025 housing data from the largest US metros, one out of three homes listed for sale in Denver had to slash their price [1][2][3].
Denver's median home price in June was $555,304, a 3.6 percent or $20,879 drop from June 2024 [1]. This cooling trend reflects a post-pandemic market adjustment, as Denver has been one of the cities experiencing pandemic-driven highs.
Following closely behind Denver is Raleigh, with 36.4% of listings experiencing price cuts. Dallas and Nashville both show a similar trend, with 35.5% of their listings undergoing price reductions [1]. These cities, once pandemic boomtowns, are now seeing large shares of price reduction [1].
Phoenix, another pandemic boomtown, also features prominently with about 33% of listings cut, consistent with it experiencing market cooling [1][3]. Seattle shows a 36.7% price cut share according to July data, placing it among the highest-ranking metros [2].
Other cities with significant shares of price reductions include Austin (over 32%), San Jose (28.7%), Tucson (41.0%), and San Diego (43.5%) [2][3].
The Washington-Arlington-Alexandria metro area shows the highest share of homes with price reductions in one report at 56.5% [2]. However, this may represent a different counting methodology or specific submarket data.
The national percentage of listings with price reductions in June 2025 reached a record high for June at 26.6%, with sharp increases in some markets such as Kansas City (+5 points from May) indicating a rapid market cool-down [1][3].
In summary, pandemic boomtowns and some West Coast metros lead the nation in the share of homes for sale with price reductions in June 2025, with Denver topping the list at about 38%, and several cities in California, Texas, Arizona, and Washington state also showing very high shares above 30-40% [1][2][3].
This trend is good news for buyers, as more sellers are slashing prices in key cities [4]. In Dallas, for instance, 30% of homes for sale had price reductions in June 2025, with the median home price dropping 3 percent to $520,000, down $16,000 [5]. Tampa, FL, was fourth for price cuts, with 31.2% of homes on the market having lowered their price [6].
Housing economist Amy Nixon has warned of more price cuts in the Dallas market [7]. She attributes this to a growing surplus of current listings, stubbornly high mortgage rates, a slowdown in domestic migration, and widespread tech layoffs [8].
Economists at Realtor.com have been analysing the data and predict that if mortgage rates fall, buyer activity is expected to pick up, and price reductions are expected to slow down [9]. In the meantime, buyers can get a deal now, especially if they pay all cash and avoid a mortgage [4].
With the summer housing market flooded with homes for sale [10], it seems that this trend of price cuts is here to stay for a while. For those looking to buy a home, this could be an excellent opportunity to get a property at below the original asking price in these identified areas.
References:
- Zillow - Denver housing market overview
- Realtor.com - Seattle housing market overview
- Redfin - Phoenix housing market overview
- CBS News - More sellers are slashing prices in key cities
- The Dallas Morning News - Median home price in Phoenix dropped 3 percent
- Tampa Bay Times - Tampa, FL, was fourth for price cuts
- Dallas Morning News - Housing economist Amy Nixon has warned of more price cuts
- Dallas Morning News - The growing surplus of current listings in Dallas
- Realtor.com - Economists at Realtor.com analyzed June 2025 housing data
- CNBC - The summer housing market is flooded with homes for sale
- In the face of a cooling housing market in several major cities, savvy investors may find opportunities in the finance sector, as real-estate listings in Denver, Raleigh, and other cities have seen increased price cuts.
- As more sellers in the housing market, such as those in Dallas and Tampa, slash prices due to market adjustments and surplus listings, news outlets and financial analysts foresee potential investment opportunities in these cities.
