"Record Price Cuts and Delistings as Housing Market Faces Buyer Revolt"

The US housing market is seeing an increase in listings, but higher mortgage rates and elevated prices are deterring buyers, leading to a stagnation in sales. Sellers are cutting asking prices as inventory grows stale, and the market is experiencing a slowdown, particularly in previously booming areas like the Sun Belt. Despite some regional variations, the overall market remains sluggish with little relief from high borrowing costs.