In March 2026, existing home sales dropped 1% year-over-year and 3.6% month-over-month amid high mortgage rates and rising median prices, now $436,705. Sellers often reduce prices or accept lower offers. Analysis of metros with over 300 sales shows homes selling below asking price, with Lubbock, Texas, having the largest average discount at 16.98%, followed by Springfield, Missouri at 11.6%. Many Florida metros also show significant price drops.
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