Newsweek - The share of home sellers who have cut prices rose for the first time in more than a year at a time when buyers are lukewarm about purchasing houses and the cost of borrowing for a home is elevated. About 6.4 percent of sellers decided to lower the price of their properties during the four weeks ending May 26, the highest level since November 2022, according to real estate platform Redfin. The median asking price for a typical home on the market dropped by $3,000 to about $417,000. This was the first time that prices had decelerated in six months, Redfin said. But in a sign of how in flux the housing market is, the median selling price jumped more than 4 percent to a record high of $390,000.
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