Seeing more price cuts in South Florida on Zillow? Here's why

In April, over 20% of South Florida single-family home listings on Zillow had price cuts, with a median reduction of 3.1%, higher than the national average of 2.7%. Zillow economist Mischa Fisher attributes this to sellers adjusting to a less competitive market and buyers stretching budgets amid lower inventory. Price cuts in the Miami metro area decreased slightly this year compared to 2023.