More than 20% of the houses listed for sale in the Dallas area have had at least one price cut in order to try and move the property.
Nationwide, the share of houses on the market that have had at least one mark down is at the highest level in four years, according to a new report by Trulia.
Just more than 17% of the homes listed for sale had gotten at least one price rollback as of August.
"Comparing data from August 2017 with August 2018, the share of listings with a price cut rose in 63 of the 100 largest metros," Trulia economist Felipe Chacon said in the new study. "Homes in pricier neighborhoods have listing prices slashed more often than those listed in neighborhoods where homes are less expensive."
"Budget-conscious buyers in more-affordable neighborhoods may have a harder time finding a bargain," he said.
Looking at North Texas neighborhoods, the largest number of price cuts this summer were in some Richardson, Plano and Allen neighborhoods, according to Trulia's research.
The average U.S. price cut wasn't much — only about 3% of the original listing price. But the increase in "reduced price" signs in neighborhoods across the nation is another sign of the changing home buying landscape.
"An increasing prevalence of price cuts doesn't necessarily indicate a definitively cooling market," Chacon said. "But given that home value appreciation rates are also edging lower and inventory is increasing in many supply-strapped markets, it seems clear the home-search process may getting easier for buyers for the first time in a long time."
The number of homes up for sale with real estate agents in North Texas has grown by about 15% in the last year to the largest number of houses on the market in six years.
Home sales by real estate agents in the area are flat this year. And median home prices through the first nine months of 2018 are up only about 5% from the same period last year.
The U.S. cities with the largest percentage of home sales listings price cuts this year include San Diego (26.4%), Salt Lake City (24.9%) and Warren-Farmington Hills, Mich. (23.6%), Trulia found.
