Home sellers’ asking price reductions declined in March

Asking price cuts decline

The percentage of U.S. home sellers cutting their asking price declined again in March, and home owners made smaller reductions in prices, according to Zillow.com.

20.7% of homes for sale on Zillow had at least one price cut as of the end of March, down from 23.1% in February.

March marked the third month in a row that fewer home sellers reduced the asking price than in the previous month. Price reductions peaked last September, when 32.1% of listings on Zillow had at least one price cut.

The number of reductions that home sellers are making was at 6.5% in March, down from 6.9% in February.

Reductions charted:

This spring has presented a variety of results depending on areas with some performing well above others as the residential real estate sector continues to suck it up and try for a nationwide recovery.