Home Sellers Continue To Reduce Listing Prices

Emeryville, CA, Nov. 6, 2009--More than four of every 10 homes listed for sale in 27 major U.S. housing markets reduced their listing prices in October, according to a report of homes listed on Multiple Listing Services (MLS) in the markets surveyed by ZipRealty, a national real estate brokerage.

The number, 43.5 percent, is down slightly from September.

According to the survey, MLS-listed properties with reduced prices have had their prices cut an average of twice, but sellers are not knocking quite as much off as they did earlier this year.

Home owners slashed listing prices by an average of $24,718 in October, just slightly less than the average reduction of $24,960 in September.

The median list price across all 27 markets decreased slightly to $281,416, down 2.02 percent compared to September.