Screenshot of Trulia's price reductions map. Property search and marketing site Trulia has launched an interactive map illustrating price reduction patterns in cities and ZIP codes nationwide, the site announced Thursday. The map allows users to zoom into a particular location and see the average price range of a listing, the average number of days the listing is on the market before sellers make their first price cut, the average percentage of the original price sellers cut, and the probability of a second reduction. In the year ending March 31, 2011, home sellers had cut a combined total of $24 billion from home listings on Trulia, according to a new quarterly report released with the map. The Home Offer Report is based on non-foreclosure residential listings on the site. On average, sellers cut their original list price by 8 percent after 79 days on the market. Of those who made one cut, 35 percent made a second cut. Narrowed down to the country's 50 largest cities, sellers w...
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