The housing market is cooling as summer draws to a close and begins to transition into fall, with some cities around the U.S. seeing larger price decreases to attract buyers.

Home sellers are moving to meet buyers in the middle with price reductions as high mortgage rates contribute to affordability challenges, particularly in metro areas that saw significant price growth during the pandemic.

An analysis by Realtor.com found that the price per square foot decreased year over year for the 10th straight month in August, with nationwide prices down 1.8% from a year ago.

Around the country, median list prices fell year over year in three of the…

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