With home sellers realizing that buyers are no longer able to afford houses at current prices and mortgage rates, they are adjusting expectations and prices are dropping in multiple housing markets across the United States, according to real estate brokerage Redfin.
In Provo, Utah, 47.8 percent of homes for sale saw prices go down in May, the highest among 108 metropolitan divisions analyzed by Redfin, the firm announced in a June 21 news release.
