p.s. I would have written a different headline pointing out that price cutting is the new norm statewide, instead of just blurbing on Houston, when comparing year over year:
Houston Chronical/MSN headline: More Houston home sellers are cutting their asking prices as the market cools slightly, data shows
“In another sign of a cooling housing market, home sellers in Houston are increasingly knocking down their asking price as fewer buyers enter the market. Redfin estimates more than a third (38 percent) of homes on the market in June saw price reductions in the Houston area last month.
In Texas, home sellers are seeing the biggest price drops in Austin. About 41.6 percent of homes on the market in Austin had price drops in June, compared to only 14.9 percent the same time last year, according to Redfin.
Meanwhile, about 37.5 percent of homes for sale in Dallas and San Antonio had price drops in June, slightly less than Houston.”