 And that number is notable, says Altos Research President Mike Simonson. The percentage of listings that have cut their asking price from the original list price is now up to 38% of the market. That's a fairly high number. That's indicative of demand weakness. And it's significantly more sellers with price cuts on the market now than any July of the last decade. And Simonson said he expects to see more price cuts in markets that up till now have remained very competitive this year.