Sellers cutting prices – who’d a thunk?

Price cuts by sellers nation wide, according to Trulia.

The combined value of reductions was $27.1 billion in the year through July 1, Trulia said in its previous monthly report.

Sellers of higher-priced properties in states that haven’t been hard-hit during the housing recession may be “catching up with the rest of the country,” Flint said.

Discount Centers

Connecticut, Massachusetts, Rhode Island and Illinois had the highest share of homes with price reductions at 33 percent, followed by six states at 29 percent: Oregon, Washington, New Jersey, Minnesota, New Hampshire and Maryland.

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2 responses to “Sellers cutting prices – who’d a thunk?

  1. InfoDiva

    Just to be clear, that’s 33% of listings that have had price reductions–not a 33% reduction in actual listing price.

    • christopherfountain

      Diva, I’m guessing that in Greenwich it’s more like 85%. I’ll try playing around with the GAR’s primitive data base and see if I can determine the actual number.