Big-city housing shows discounts as buyers gain negotiation leverage in June

In June, 38 of the 50 largest U.S. housing markets saw homes selling below asking, led by Florida and Texas metros (Miami and West Palm Beach at about 4.6%). While San Francisco, New York, and Boston saw prices come in above asking, the national share of homes selling above asking dropped to roughly 25% from the 2022 peak. Higher mortgage costs and slower price adjustments are widening buyers’ negotiating room, though leverage varies by market and property.