In 38 of the 50 largest U.S. housing markets, homes sold below asking price, with the biggest discounts in Florida and Texas, averaging nearly 5% less in Miami and West Palm Beach. Nationally, only 25% of homes sell above asking, down from 55% in 2022. Higher borrowing costs and slow seller price adjustments contribute to this trend. Negotiation opportunities vary by market, home condition, and listing duration.