Graham Stephan states that a home's list price is merely a negotiating point, and buyers can negotiate significantly below it in markets with dropping values, high inventory, and long market times.

Graham Stephan states that listing prices are now lower than they were in 2024.

Graham Stephan reports that the average home is now taking the longest time to sell in over a decade.

Graham Stephan states that home sellers are now outnumbering home buyers by more than 600,000.

Graham Stephan reports that according to Standard & Poor's, national home prices grew just 1.3% for the year across the largest 20 cities in America, which is the weakest full-year gain since 2011 when prices fell 3.9%.

Graham Stephan reports that 47 out of the top 50 cities are getting weaker in the housing market.