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Tuesday, October 12, 2010

Price-Reduced Homes Rise 24% Year-over-year in September

I have a feeling this might temporally slow down if foreclosure-gate halts stop putting homes on the market for 2 to 6 months.

September also saw more discounted homes for sale than August, with the number of price-reduced homes on the market up 2.1 according to the report. The report also found that sellers had reduced their list prices an average of twice with a median reduction of $19,165.

"Sellers appear to be cutting their prices again," said Leslie Tyler, Vice President of Marketing for ZipRealty. "Last spring the tax credit helped to bring buyers into the market, and we didn't see sellers reducing prices by as much.   But now sellers seem to be cutting prices more aggressively going into the typically slower fall and winter seasons."
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