Redfin Finds Record 34% of Sellers Cut Their List Price in February
More than one-third of home sellers lowered their list price during February, according to Redfin, Seattle.
That figure is up from 31.5% a year earlier and represents the highest February share in records dating back to 2012, Redfin said in a new report.
February home sellers who lowered their list price cut it by an average of $40,915, or 7.3%; that’s the highest February percentage since 2023, Redfin found.
Among all February home sellers–not just those who reduced their price–the average price cut was $13,463, or 2.4%, the highest February percentage on record, the report said.
For the analysis, Redfin compared original list prices to final list prices in U.S. MLS home-sale records.
“Price cuts are on the rise because it’s a buyer’s market,” Redfin said. “There are hundreds of thousands more home sellers in the market than buyers because buyers have been spooked by high mortgage rates, high prices and economic uncertainty. When sellers outnumber buyers, buyers can often negotiate on price because they have a lot of options to choose from.”
Springtime Is the Best Time to Sell a Home Without a Price Cut
Redfin compared February 2026 to prior Februarys because price-cut data is seasonal, but noted that this masks seasonal trends that prospective sellers should be aware of. Sellers who seal the deal in springtime are the least likely to face a price cut. Sellers who close in the winter–specifically December–are most likely to face a price cut.
In six of the past 10 years, May was the month with the lowest share of price cuts. April had the lowest share in three of the past 10 years, including 2024 and 2025.
Redfin reported last month that relistings are increasing as home sellers bet on a stronger spring market; nearly 45,000 U.S. homes that were delisted last year were relisted for sale in January 2026—the highest January figure in records dating back to 2016.
“It’s worth noting that this analysis doesn’t include price cuts that happened prior to a relisting, meaning the share of home sellers who cut their price may be even higher than reported,” Redfin said. “For example, if a seller lowered the list price of their home in September, delisted it in October and then relisted it in February, the September price cut wouldn’t be reflected in the aforementioned statistic about 34.2% of home sellers cutting their price.”
