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.
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.