My Real Estate Blog

Percentage of reduced listing prices increases 5.3 percent

The percentage of homeowners who reduced their listing prices increased 5.3 percent in July compared with June, according to a monthly survey conducted by ZipRealty, which examines home listings in 26 major markets.

More than 45 percent of home listings experienced at least one price reduction in July, compared with more than 43 percent in June, according to the report.  On average, homeowners within all markets studied reduced list prices by $18,949.
 
The Los Angeles and San Francisco markets were among those with the lowest percentage of price-reduced homes, with Los Angeles coming in at 39.4 percent and San Francisco at 40.9 percent.

Reprinted from C.A.R.