Industry News

Price Reductions

What Does The Recent Rash Of Price Reductions Mean To The Real Estate Market?

Last week, in a new report from Zillow, it was revealed that there has been a rash of price reductions across the country. According to the report:

· There are more price cuts now than a year ago in over two-thirds of the nation&rsqup;s largest metros

· About 14% of all listings had a price cut in June

· Since the beginning of the year, the share of listings with a price cut increased 1.2%

· This is the greatest January-to-June increase ever reported, and more than double the January-to-June increase last year

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