Some 21 percent of homes currently on the market in the United States as of February 1, 2010 have experienced at least one price cut, according to Trulia.com. The average discount for price-reduced homes continues to hold at 11 percent off of the original listing price.  Of the top 50 major U.S. cities Trulia tracks, only seven had price reduction levels at 30 percent or higher in February 2010, down from 21 in November 2009. Eight cities have seen a decline by more than one-third, and five of those cities are from the state of California:  San Francisco, Oakland, Sacramento, San Jose, and San Diego.

 
      National price reduction levels peaked toward the end of last year, corresponding to the timing of the original November 2009 deadline for the Federal Housing Tax Credit. In the months following the extension of the tax credit Trulia has seen the lowest levels of reductions since the report started in April 2009. National price reduction levels by month:

* February 2010 - 21%
* January 2010 - 21%
* December 2009 - 22%
* November 2009 - 26%
* October 2009 - 26%
* September 2009 - 26%
* August 2009 - 25%
* July 2009 - 25%
* June 2009 - 24%

Don Schaller

Broker/Owner

Schaller Family Realtors

Dickson Realty, Truckee

dschaller@suddenlink.net