Home sellers in the Philadelphia region lowered prices on about 24 percent of listings in June, during a time when the market is typically busy in the spring, writes Michaelle Bond for The Philadelphia Inquirer.
According to Zillow, that is an increase from about 21 percent compared to the same time last year.
While more markets nationwide are shifting in favor of buyers, the Philadelphia region still favors sellers.
This is largely due to its relative affordability and a housing supply that is currently too limited to meet demand, even with the recent slowdown.
“You just have a market still somewhat starved for inventory,” said Orphe Divounguy, senior economist at Zillow.
As a result, the Philadelphia area share of price cuts remains lower than in most other regions across the country. Nationwide, approximately 27 percent of home listings saw price reductions in June, the highest share ever recorded for the month by Zillow.
In the Philadelphia region, the share of home listings with reduced prices in June was 22.3 percent in 2022, 19.5 percent in 2023, and 20.8 percent in 2024.
Read more about slashed home prices while there is still a limited amount of housing in The Philadelphia Inquirer.
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Editor’s Note: This post was initially published on DELCO Today in August 2025.
