Industry NewsMarkets & Economy

Real estate price cuts grow for 3 months in a row

Midwestern cities see highest share of reduced-price listings
Published on Sep 15, 2010

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As of Sept. 1, 26 percent of home sellers had lowered their asking price -- a share that has increased for three straight months, to bring it level with the last year's level -- according to a monthly report by property search site Trulia.

That 26 percent share was up from 25 percent in August, 24 percent in July, and 22 percent in May and June. It's also the highest price-reduction level measured so far this year in Trulia's stats. In aggregate, sellers discounted more than $29 billion nationwide.