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by CareyBot

The number of discounted homes rose 17.6 percent in January compared to the same month a year ago, far outpacing a rise in inventory, according to a monthly review of multiple listing service listings in 26 major markets by national real estate brokerage ZipRealty. Inventory overall rose 2.8 percent year-over-year last month, to 583,218 for-sale homes. Of those, nearly half -- 46.2 percent -- had experienced at least one price reduction. That's a jump from January 2010, when 40.4 percent had seen a discount. "In more than half of the surveyed markets, sellers are averaging at least two reductions in price," said John Oldham, ZipRealty's spokesperson, in a statement. "Inventory has grown throughout much of the year; as sellers face the pressure of more buying options, they...