Trulia has announced that, as of May 1, 22% of listings currently on the market in the United States experienced at least one price reduction, representing a 10% increase from the previous month.

The total dollar amount slashed from home prices was $25 billion and the average discount for price-reduced homes continued to hold at 10% off of the original listing price.

Cities that saw the greatest price reductions included Omaha, San Diego, Tulsa, Minneapolis and Long Beach. In addition, 12 of the top 50 cities across the U.S. saw price reduction levels at 30% or more, compared to just five cities in the previous month. Price reduction levels for luxury homes continues to hold steady, with an average discount of 14% in price reductions.

Read more in the press release from Trulia and in the Trulia blog.

Posted in Education And Training, Buyer Resources, Seller Resources

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