The share of home sellers who’ve cut their list price has fallen this spring. But that doesn’t mean buyers won’t still find price reductions. In fact, they’re relatively common depending on where you look. According to one recent analysis, 35.4 percent of homeowners adjusted their price in April – down from a peak of 36.6 percent last August. That’s a relatively small overall decline, but regional differences tell a different story. Cities like Phoenix, Seattle, and Orlando all saw an increasing number of price cuts, while places like Jacksonville and Philadelphia saw a declining number of sellers cutting their price. Ultimately, it depends on how hot the market is and how much inventory is available for sale. Where there are more homes than interested buyers, sellers are more likely to have to adjust their price. In hot markets like San Francisco, just 13.9 percent of sellers cut prices in April. (source)
