Are sellers cutting prices in Phoenix?

{ "answer": "Yes, a notable share of sellers in Phoenix are currently cutting prices. Nearly three out of ten homes on the market have seen a price reduction.\n\nRight now, 29.0% of homes for sale have had their price lowered. This percentage has gone up by 2.0% compared to the same time last year, suggesting price adjustments are becoming more common.\n\nEven with some sellers cutting prices, the median listing price is holding steady month-over-month. However, it is down 4.8% over the past year to $475,000. The average listing price also dropped 3.0% over the past year to $764,897.\n\nHomes are selling a bit faster than before, spending 62 days on the market. This is a 4.7% decrease in days on market compared to last year, meaning buyers are making decisions quicker.\n\nFor sellers, if your home isn\