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Home sellers’ asking price reductions declined in March

Asking price cuts decline

The house with the moss green paint.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.

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zillow price reductions

home sales price reductions

Lani is the COO and News Director at The American Genius, has co-authored a book, co-founded BASHH, Austin Digital Jobs, Remote Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

14 Comments

14 Comments

  1. Jonathan Benya

    April 8, 2010 at 1:39 pm

    I’d love to see this info correlated with an average time on market chart for the local area as well. I suspect you’d see that number dropping as well in the local areas.

  2. Nashville Grant

    April 8, 2010 at 9:32 pm

    I can guarantee you that this trend will not continue past the tax credit’s end in April. Sellers have stiffened their backs temporarily, but it cannot last long. Kind of like a chicken trying to fly…

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