AUSTIN, Texas — Austin ranks second in a list of cities experiencing the highest rates of home price slashing, according to new data from Realtor.com.
The Austin housing market has seen 32.4% of listings undergo price reductions. The current median home list price sits at $620,000.
The price slashing comes as high prices and mortgage rates scare many homebuyers away.
In first place on the list is Reno, Nevada, with a slightly higher amount of 32.6% of listings experiencing price slashes. Phoenix, Arizona, takes third place with 29.5%, and Anchorage, Alaska, takes fourth place with 28.5%.
Following behind Anchorage is Boise, Idaho; then Ogden, Utah; then Sacramento, California; then Colorado Springs, Colorado; then Evansville, Indiana; and Medford, Oregon, rounds out the top 10.
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