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Nearly 1 in 5 homes slashed prices last month, despite falling mortgage rates
['Heather Miller']
Latest News | FOX 10
The Brief Buyers still have the upper hand in the housing market, with more homes to choose from and nearly 20% of sellers slashing their prices in September.
Nearly 20% of home listings reduced their prices last month in what experts say is another sign that the housing market continues to slow.
Of the 20% of sellers who slashed their prices last month, most were in the $350,000-$500,000 range.
RELATED: Potential homebuyers are giving up, survey findsThe average long-term mortgage rate rose this week to 6.34% from 6.3% last week, mortgage buyer Freddie Mac said Thursday (Oct. 2).
Best week to buy a houseTimeline:According to Realtor.com, the best week to buy a house – Oct. 12 - Oct. 18 – is approaching.