Home Price Drops 9/25/26
Summary
CNBC’s Jessica Ettinger discusses the shifting housing market with Compass International CEO Robert Rifkin. As 7% mortgage rates make buying more expensive, 42% of homes on the market in September have seen price cuts, the highest rate in nearly a decade. Rifkin notes that these cuts are concentrated in areas like Texas, while markets with low supply like New York and Chicago see fewer reductions. The episode highlights how geographic and price-point variations create distinct market conditions, offering motivated buyers better negotiation opportunities.
Topics discussed
Intro: Homebuyers facing 7% mortgage rates
Rising price cuts among home sellers
Regional variations in price cuts (TX vs NY)
Supply constraints and market segmentation
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