Sellers Are Cutting Home Prices Again — These Cities Give Buyers the Most Negotiating Power

Sellers in markets including Austin, Tampa, Memphis, San Antonio and Denver have cut asking prices, giving prepared buyers more room to negotiate. Realtor.com’s August data shows Austin recorded the steepest decline in listing price per square foot among the nation’s 50 largest metros – Shutterstock

The housing market has developed a little more breathing room for buyers, especially in cities where sellers keep trimming asking prices. In August, the median listing price per square foot fell year over year in 36 of the 50 largest U.S. metros, with some markets seeing much steeper declines than others.

That does not mean every seller suddenly wants to hand over the keys at a bargain price. It does mean buyers in certain cities have something they have lacked for years: options. When several comparable homes sit on the market and sellers keep adjusting prices, a buyer can negotiate from a much more comfortable position.