Southern Utah Real Estate Price Reductions … 1,2,3,4 Months

For the one, two, three, fourth uninterrupted month, list price reductions of homes currently listed for sale on the MLS have increased in the United States. The present rate of reductions are now at an unprecedented soaring 27 % (Trulia.com)

With these record-high reductions amounting to more than $30.7 billion nationwide. From what I have read online it looks like thsese seemingly never ending price reductions began in earnest in June of 2010 in many of the harder effect areas. Of Which Southern Utah was one.

As apprehensive sellers, watching their neighbors reduce the list price on their home, have gotten aggressive in their pricing in order to compete… “We would normally expect to see a seasonal uptick in price reductions between June and October, as motivated sellers whose homes are still on the market after the summer selling season aggressively cut prices in an effort to get their homes sold before the holidays,” said Tara-Nicholle Nelson, consumer educator, Trulia.com. Well, that’s happening at an extremly rapid pace.

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~ by SaintGeorgeHomes.net on November 7, 2010.