We are seeing a reduction in, well, reductions! This is just good news, however slight, however late in coming.

"Trulia, Inc., a real estate search site, has announced that 22% of homes currently on the market in the United States as of December 1, 2009 have experienced at least one price cut, the lowest level since Trulia started tracking price reductions in April 2009. The total amount slashed from home prices also dropped from $28.1 billion in November to $24.7 billion in December, representing a 12% decrease. The average discount for price-reduced homes slightly increased to 11% off of the original listing price compared to 10% in the previous four months. The number of listings on Trulia also decreased by 9% from the previous month."

The sources also collect data by region. The West is showing the lowest number of price reductions(19%) after the south (20%).

Article courtesy of RIS Media. Click here for the fully story.

Labels: Home Values, Listing, Pricing, Real Estate