More sellers lowering prices, as interest rates impact prices, buyer demand

In the four weeks through May 29, over a fifth of sellers dropped their list price, a 2022 high and the highest percentage in any four-week period since October 2019, according to Redfin data. While the supply-demand curve is shifting slightly more in favor of buyers, buyers are contending with rising interest rates and, still, a relative dearth of homes for sale.