03:30 PM EST, 11/24/2025 (MT Newswires) -- Price cuts to US home listings in October matched the largest discounts offered by sellers on record, opening a window for patient buyers pressured by affordability woes, Zillow Group ( ZG ) (Z, ZG) said Monday.

The typical listing saw $25,000 of cumulative price cuts last month. The typical size of an individual price cut has "barely budged" in recent years from nearly $10,000, the real estate marketplace said in a report.

"Most homeowners have seen their home values soar over the past several years, which gives them the flexibility for a price cut or two while still walking away with a profit," Zillow ( ZG ) Senior Economist Kara Ng said. "These discounts are bringing more listings in line with buyers' budgets, and helping fuel the most active fall housing market in three years."

With prospective homebuyers facing affordability challenges, sellers are "recalibrating their expectations on the fly," according to the report.

"Patient buyers are reaping the rewards as the market continues to rebalance," Ng said.

Some of the most expensive markets in the US saw the biggest median discounts in October, led by San Jose with $70,900 of price cuts. Properties in Pittsburgh offered the largest discounts relative to typical home values, according to the report.

Affordable markets such as St. Louis, Louisville, and Indianapolis reported the smallest discounts as faster sales give sellers less reason to lower list prices, Zillow ( ZG ) said.

Last week, data from the National Association of Realtors showed that existing home sales in the US rose more than expected in October amid lower mortgage rates.

Price: 71.72, Change: +0.55, Percent Change: +0.77