The housing downturn may be unfolding one price cut at a time.

We’re finally starting to see the major decline in home prices unfolding in slow motion. Yes, new homes are not made as well as used homes, but you can still expect used homes to start matching the prices of new construction. Supply is also at the highest it has been since before Covid.

New Holmes are now cheaper than old ones.

https://finance.yahoo.com/markets/article/in-17-us-cities-new-homes-are-now-cheaper-than-old-ones-165413642.html

New homes used to carry a premium. In 17 U.S. cities, they now carry a discount.
Builders are dealing with rising inventory and a sales slump, so they’ve been cutting prices and offering incentives to attract buyers.
It’s not the case everywhere. In places where new… pic.twitter.com/CfQgg9WqBU
— Yahoo Finance (@YahooFinance) October 12, 2026

Redfin just issued a major warning on the U.S. housing market. Housing inventory has surged to a six-year high, and there are now 58% more home sellers than buyers nationwide. According to Redfin, this is the strongest buyer’s market on record, and sellers are beginning to panic as home prices decline.

In this video, I’m on the ground in Atlanta, Georgia, showing neighborhoods where dozens of homes are sitting for sale and property values have dropped 10-20% in just two years. One townhouse near the Atlanta BeltLine was purchased for $848,000 in 2023 and is now listed for $750,000, nearly a $100,000 loss before realtor fees and closing costs.

And the housing downturn could be getting worse. ATTOM reports that completed foreclosures have surged 42% year-over-year through August 2026, with states like South Carolina, Nevada, Florida, and Texas experiencing significant mortgage distress. Meanwhile, housing inventory across the South and West has reached 10-year highs, creating more downward pressure on prices heading into 2027.

But this housing market correction is also creating major opportunities for homebuyers. I break down how I purchased my own Atlanta townhouse for $330,000 earlier this year, a $167,000 discount from its 2023 sale price. I’ll also reveal how the property’s Zillow Zestimate has changed since I bought it, and what that tells us about the risks of buying in a declining housing market.