Price Reductions Are Falling for the Second Week in a Row. What Does That Mean?

Two weeks ago, price reductions in Snohomish and North King County hit 388, the highest number we had tracked all summer. Last week they dropped to 370. This week they came in at 350.

That’s two straight weeks of decline, and it’s the clearest positive trend in the data right now. But the week wasn’t all good news, and it’s worth looking at both sides honestly.

This Week’s Numbers (Week Ending July 26, 2026)

• 381 New Listings (essentially flat from 385)
• 283 Pending Sales (down 6% from 300)
• 217 Homes Sold (down 6% from 232)
• 350 Price Reductions (down from 370)
• 16 Price Increases (essentially flat from 17)
• 32 Back on Market (up from 28)
• 35 Expired Listings (down from 47)
• 123 Canceled Listings (essentially flat from 117)
• 10 Contingent

The Gap Ticked Back Up

Last week the gap between new listings and pending sales narrowed to 85 homes. This week it widened back out to 98. New listings were almost unchanged (385 to 381), so the move came from pending sales easing 6%.

That’s the second straight week pending sales have softened. It’s worth paying attention to, but it’s also worth keeping in perspective. At 283, pending is still within the range we’ve seen across the past several weeks. It’s not a sudden drop. It’s a gradual easing.

The gap at 98 is still well off the peak of 167 we saw two weeks ago. So the overall picture is better than it was at the worst point of the summer, even if this week didn’t continue last week’s improvement.

Two Straight Weeks of Price Reduction Declines

Here’s the trend that tells the most encouraging story right now.

Week of 7/12: 388 price reductions (the high) Week of 7/19: 370 Week of 7/26: 350

That’s a 10% drop from peak over two consecutive weeks. Sellers who priced too high are still cutting, but fewer of them are needing to. And that’s a signal that more sellers coming to market recently are pricing more accurately from the start.

It’s still a high number in absolute terms. But the direction matters, and the direction is improving.

What the Full 7-Week Picture Looks Like

Stepping back from any single week, here’s where the gap between new listings and pending sales has been since we started tracking in mid-June:

Week of 6/16: +40 homes Week of 6/21: +84 homes Week of 6/28: +143 homes Week of 7/5: -116 homes (July 4th holiday, supply was artificially low) Week of 7/12: +167 homes (the widest gap we’ve tracked) Week of 7/19: +85 homes Week of 7/26: +98 homes

The trend after the holiday peak is encouraging. The gap went from 167 to 85 to 98. It’s not a clean downward line, but it’s holding well below the July high. The market isn’t deteriorating further, which is meaningful after several weeks of widening pressure.

What This Means If You’re Selling

Price reductions declining two weeks in a row is genuinely good news for sellers. It suggests the market is finding a more stable level and that buyers are engaging more with homes priced at current market conditions.

That said, the fundamentals haven’t changed. Getting the price right from day one is still the most important thing you can do. The homes that show up in the reductions column are almost always homes that started too high and lost their best window of attention.

If your home has been on the market and hasn’t moved, the data says the price is still the most likely answer.

What This Means If You’re Buying

Pending sales softening for two weeks in a row means fewer competing buyers right now than at other points this summer. That’s useful. Combined with price reductions still running at 350 per week, there are motivated sellers out there willing to negotiate.

This is still a market where buyers have real leverage. That won’t last forever, but the data suggests it’s not going away this week either.

The Bottom Line

This week was mixed. The gap widened a little and pending softened again. But price reductions declined for the second straight week, which is the most consistent positive signal we’ve seen in this data all summer.

The next few weeks will tell us whether that trend holds. If it does and pending stabilizes, the market could start shifting toward tighter conditions as we head into late summer.

As always, reach out anytime if you want to talk through what this means for your specific plans. Happy to walk through it with you.