Trulia's March 2010 Price Reduction Report shows that, for the first time in a year, fewer sellers are cutting listing prices.

Nationally we are now at the lowest percentage of price reductions, with just under 20 percent of for-sale homes as of March 1 being reduced at least once. Compare this to October and November, when up to 26 percent of sellers slashed their asking price. Currently we are at the lowest rate since Trulia began tracking reductions in April of 2009.

"Consumer engagement on Trulia remains at an all time high, but home sales have dropped nationally during the past few months because there has been a lower sense of urgency to 'buy now,'" said Pete Flint, Trulia co-founder and CEO. "As we get closer to the government incentives running out, we expect price reductions to increase as sellers begin to feel the pressure to lure buyers in, in advance of the tax credit expiration."

The following U.S. cities placed in the top five for the biggest decline in price reductions from February 1, 2010 to March 1, 2010: Charlotte, NC (28%), Colorado Springs, CO (19%), Houston, TX (19%), Raleigh, NC (19%) and Jacksonville, FLY (17%).

Among the top five U.S. cities in March 2010 reductions were Milwaukee, WI (number one at $17,247,300), Phoenix, AZ ($99,006,960), Mesa, AZ ($30,437,385), Memphis, TN ($24,090,936) and Baltimore, MD ($35,287,980). Denver placed 40th.

Read more at Realty Times and Trulia.

Posted in Education And Training, MBI Headlines, Seller Resources

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