JUST IN: As of tonight, 1 in 4 homes for sale in America are in Texas and Florida - two states that hold just 17% of the nation's homes.
Of the two, Texas is the bigger concern.
48.3% of all Texas listings are cutting prices:
San Antonio: 54.7%
Austin: 54.3%
Dallas: 53.3%
Part of the pressure is homebuilder competition - builders account for 28.4% of everything listed in Texas today.