Listing prices post the sharpest drop in 9 years

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1. Homebuyer’s down payment falls as buyers hold onto cash

According to a new Redfin report, the typical homebuyer put down $64,000 in March, 1.5% less than a year earlier. In percentage terms, buyers are putting down 15% of the purchase price, down from 16.1% a year earlier.

The report found that many buyers are choosing to preserve cash as monthly housing costs remain elevated and economic uncertainty persists.

Among the 40 largest metros analyzed, no Texas markets ranked among those with the highest or lowest down payment percentages, or among the largest annual changes.

2. Realtor.com launches RealAssist AI in partnership with Google

Realtor.com launched RealAssist AI yesterday, a conversational, AI-first home search tool developed in collaboration with Google.

RealAssist guides homebuyers throughout the search process. The AI-powered feature answers questions about listings and their features, nearby amenities and points of interest, commute times, school ratings, affordability, and broader real estate topics such as mortgage options.

It also enables users to compare listings and neighborhoods side by side, and visualize how a property may look at different times of day or across seasons.

3. Catch up quick

👭 60% of renters say they’d consider co-buying with friends. (NAR)

🚀 I sold my home in 5 days and made a $90K profit, using an AI chatbot. (NYP)

🚚 Texas is the No. 1 state for renters to move to in 2026. (Apartments.com)

🌆 Austin emerges as a leader in home sales growth. (Homes.com)

💸 How much money does happiness cost in 2026? (TheHustle)

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4. Sellers are pulling their homes off the market

According to a new Redfin report, 5.8% of all home listings nationwide were taken off the market in April. That matches December 2025 for the highest share since March 2020.

Delistings rose 3.8% month over month on a seasonally adjusted basis, marking the second straight monthly increase.

Despite the uptick in delistings, some sellers are returning. Relisted homes—properties that were removed from the market for at least 31 days within the past 12 months—made up 2.5% of active listings in April, the highest share since mid-2020.

5. Home listing prices post sharpest drop in 9 years

According to a Realtor.com report, the median list price fell 2.4% year over year to $429,500, marking the largest annual decline since tracking began in 2017. Despite the drop, prices remained 1.1% higher than in April.

Key takeaways:

• The share of active listings with a price cut fell to 17.5%, down from 19.1% a year ago.

• Active inventory climbed 31.5%, pushing the number of homes for sale above 1 million.

• Homes going under contract increased 4.3% year over year.

• The typical home spent 51 days on the market, four days longer than last May.

• Austin recorded the steepest year-over-year listing price decline among major Texas metros, with prices falling 9.5%.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

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