Data Analysis

Redfin reported that 21.1 percent of active listings nationally carried a price cut in the four weeks ending September 20, 2026, the highest share for the time of year in records back to 2022, while Tampa posted the largest decline of any metro in the country at 2.0 points.

Price-cut rates rose in 42 of the 50 largest metros over the year. Three of the six where they fell are in Florida, and four of the state's six metros sit below the national rate.

Redfin reported on September 30, 2026 that 21.1 percent of US home sellers with active listings cut their asking price during the four weeks ending September 20, the highest share for this time of year in records the company says date back to the start of 2022. Across Florida's six metros in the 50-metro table, the rate ran from 13.7 percent in Miami to 23.8 percent in Jacksonville. Price cuts became more common in 42 of the 50 metros over the year and less common in six. Three of those six are Florida metros: Tampa at 23.4 percent, down 2.0 points, the largest decline in the country; Orlando at 20.9 percent, down 1.2; and West Palm Beach at 15.8 percent, down 0.7.

A fourth Florida metro, Fort Lauderdale at 16.4 percent, was unchanged. So of the eight metros in the country where the price-cut rate did not rise, half are in Florida.

How many Florida sellers are cutting their asking price?

The figure differs by metro more than any single statewide number would suggest. Jacksonville at 23.8 percent and Tampa at 23.4 percent sit above the national 21.1 percent. Orlando at 20.9 percent sits just below it. The three South Florida metros sit well below: Fort Lauderdale 16.4 percent, West Palm Beach 15.8 percent and Miami 13.7 percent.

That is a spread of 10.1 points between Jacksonville and Miami, inside one state. For context on how wide that is, the entire 50-metro table runs from 9.6 percent in San Francisco to 30.9 percent in Denver, a range of 21.3 points. Florida covers almost half of the national range on its own.

Measured against the rest of the country, Miami ranks 46th of the 50 metros by price-cut share, meaning only four metros nationally have fewer sellers cutting. West Palm Beach ranks 42nd and Fort Lauderdale 41st. Three of the ten lowest price-cut rates in the United States are in South Florida. Jacksonville ranks 12th and Tampa 15th, both in the top third.

Where are price cuts becoming less common?

In six metros, and Florida holds three of them. Tampa fell 2.0 points over the year, San Francisco 1.3, Orlando 1.2, West Palm Beach 0.7, Houston 0.6 and Chicago 0.3. Everywhere else the share either held flat or climbed, and the typical metro saw it rise by 1.35 points.

Redfin's report does not explain the Florida declines, and this article does not either. Two readings are available from the figures alone and neither can be settled from this release. A falling price-cut rate can mean sellers are listing closer to what the market will pay, which would show up as fewer cuts after listing. It can also mean fewer or different homes are on the market than a year ago, which changes the pool being measured. The release reports the share of active listings with a cut and nothing about the size of the cuts or the composition of the listings, so both readings sit on the same number.

What the figure does not mean is that Florida prices are rising faster. This desk reported on September 29 that the S&P Cotality Case-Shiller index had Tampa down 0.73 percent over the year through July, the third-weakest reading among its 19 metros, and on September 30 that Redfin's own home price index had Tampa up 4.1 percent through August. Those two disagree with each other on Tampa's direction. A declining price-cut rate does not resolve them.

How does Florida compare with the rest of the country?

The country is moving one way and Florida is largely not moving. Boston saw the sharpest increase at 7.6 points, followed by Minneapolis at 3.7, Seattle at 3.5 and Phoenix at 3.4. Denver has the highest rate at 30.9 percent, with Indianapolis at 29.9 and San Antonio at 26.8.

Florida's two highest, Jacksonville and Tampa, are above the national rate but barely moved over the year, up 0.3 and down 2.0 respectively. The three South Florida metros are among the lowest in the country and essentially flat, with Miami up 0.2, Fort Lauderdale unchanged and West Palm Beach down 0.7. Orlando is the one Florida metro near the national average, and it declined.

Redfin Senior Economist Asad Khan is quoted in the release saying, "Those who sell their homes quickly are the ones who are getting savvier about pricing right from day one." The release also quotes Chandra Gordon, a Redfin Premier agent in Seattle: "Today's buyers have enough options that they can afford to be picky, so it's critical for sellers to price correctly." Neither comment is about Florida.

What does a price cut actually measure?

It measures listings, not sales. Redfin's figure is the share of active listings that had a price reduction during a four-week window, in this case the four weeks ending September 20, 2026. A home that lists high, cuts twice and sells is counted the same as a home that lists high, cuts once and sits. The release states no dollar amount, no percentage reduction and no count of listings behind each metro's share.

The universe is the 50 most populous US metros, which is why six Florida metros appear and smaller markets such as Sarasota, Fort Myers, Naples, Ocala and the Space Coast do not. For figures covering those markets, the Florida housing tracker and the individual market pages carry metro and county data, including Miami, Tampa, Orlando and Jacksonville.

The release notes that mortgage rates are above 7 percent, which matches Freddie Mac's survey average of 7.03 percent for the week of September 24, 2026.

Limitations

The share of listings with a price cut is a measure of seller behavior, not of transaction prices. It says nothing about what homes sold for, and nothing about the size of the reductions.

Redfin does not state whether these figures are seasonally adjusted. The second read of the release asked that question directly and the answer was that the page does not say. The year-over-year comparison is against the same four weeks of 2025, which limits but does not remove the seasonal question.

The record claim is Redfin's own and is bounded by their own data. The release says this is the highest share for this time of year in records dating to the start of 2022, which is four years of history and not a long-run record.

The release was read twice, the second time after the cache expired and asking only for transcription and for an explicit count of the metros in the table. The second read returned all 50 rows and confirmed every Florida figure quoted here. The first read listed only the five highest and five lowest metros, which is why the count question was asked.

All rankings, the Florida spread, the count of rising and falling metros and the national median change were computed by this desk from Redfin's published table, not taken from the release.

Sources

Redfin, "Price-Drop Rate Ticks Up to Record September Rate Amid Strong Buyer's Market," published September 30, 2026: redfin.com/news/price-drop-rate-ticks-up/

S&P Cotality Case-Shiller Home Price Indices, July 2026, published September 29, 2026, for the Tampa annual figure cited

Redfin Home Price Index, August 2026, published September 22, 2026, for the Tampa annual figure cited

Freddie Mac Primary Mortgage Market Survey, week of September 24, 2026: freddiemac.com/pmms

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.