Recently homes are going for less than advertised and more cash deals

[Jimmy Rojas]

Im located in Phx,Az, have access to MLS recently i noticed under the sold section there is a lot (more than before) homes being sold below asking price and some in cash, anyone know whats going on, Im currently looking for a home so i guess this is good for me.

[Ken M.]

Quote from @Jimmy Rojas:

Im located in Phx,Az, have access to MLS recently i noticed under the sold section there is a lot (more than before) homes being sold below asking price and some in cash, anyone know whats going on, Im currently looking for a home so i guess this is good for me.

It's nothing sinister. ;-) Houses aren't actually worth what they are being listed for. The high in the market was summer 2022 and actual values have been declining. 
I am offering 85% of list and getting my offer price.
The other alternative is seller offering to buy down the interest rate for buyers. That's popular too but I don't think that gets properly reflected in the MLS.