Seattle Listings See More Price Cuts

Seattle ranked among the 12 US metros with the most price cuts, with ~24% of active listings seeing reductions in the recent four-week period.
That Seattle share was ↑~4 points yearly, showing price reductions became notably more common locally as sellers adjusted to current market conditions.
Mortgage rates moved >7% in Late-Q3 and sat in the mid-7% range recently, a backdrop that left more homes lingering on market.
An economist said many Seattle sellers were coming to terms with reality as higher borrowing costs, economic uncertainty, and longer listing times pressured pricing.
The recent trend pointed toward a more buyer-friendly Seattle market, with more sellers trimming prices to keep listings competitive as homes stayed available longer.