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ZipRealty: Fewer sellers slash prices

California homes see highest dollar discounts, fewest homes reduced

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Fewer sellers cut their list prices for the fifth straight month in January, according to a report by real estate brokerage ZipRealty. The report covered 27 of 36 U.S. metropolitan areas in which the brokerage operates. The statistics in the monthly report reflect the brokerage's multiple listing service data as of Jan. 4. Sellers reduced the asking price on 40.4 percent, or 229,306, of available homes, down from 44.8 percent in December, to an average discount of $21,925, a rate 6.54 percent lower than the month before. The median asking price of homes across the country was $258,634, a 0.97 percent decrease from December, and the average percentage reduction was 7.81 percent, a 5.22 percent decrease from December, the report said. Although the raw number of homes for sale rose 2.87 percent from December, to 567,265, year-over-year inventory was down 22.3 percent. "We have a lot fewer homes for sale right now than we did last year, and we are seeing more sellers stic...