Fewer Sellers Are Cutting Prices
3/9/2010
Bidding wars are becoming more common
Daily Real Estate News | March 9, 2010 |  Share
The prices on 19 percent of homes for sale as of March 1st have been reduced at least once, the lowest percentage in the last year, according to Trulia.com.
In October and November, when the market was feeling the effect of the tax credit, 26 percent of sellers cut their asking prices.
“Better pricing is leading to less time on the market, less price reduction, and in a lot of markets we're starting to see bidding wars on lower end properties," said Ken Shuman, spokesperson for Trulia.
Trulia calculates that these U.S. cities experienced the biggest decline in price reductions from Feb. 1, 2010 to March 1, 2010:
- Charlotte, N.C.
- Colorado Springs, Colo.
- Houston
- Raleigh, N.C.
- Jacksonville, Fla.
- Albuquerque, N.M.
- Tucson
- Omaha, Neb.
- San Antonio, Texas
Source: Trulia.com (03/09/2010)
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