In 38 of the 50 largest U.S. metro areas, buyers are paying below asking prices as sellers adjust to higher mortgage rates and increased supply. Florida and Texas lead with average discounts around 2-5%, driven by new home construction and rising ownership costs. However, markets like San Francisco, New York, and Boston still see prices above list due to low inventory and strong demand. Buyers now have more negotiation leverage, especially on older or price-reduced listings.