Homes For Sale, Price Cuts Rise In April

By
Managing Real Estate Broker with Connect Realty PB00053359

The number of homes for sale in 27 major metropolitan areas was up 2.6 percent in April from a month earlier, according to ZipRealty. The figures, which cover all single-family homes, condominiums, and town houses listed for sale, showed April's inventory down 9.6 percent from a year ago but doesn't take into account the supply of potential foreclosures that may hit the market this year. Zillow.com reports the percentage of available homes that cut their asking price also rose. According to the website, nearly one in four homes dropped their asking price in April, though the median price cut was down to 6.3 percent from 6.5 percent in March. More here (http://www.reuters.com/article/idUSTRE6434AQ20100504) and here (http://blogs.wsj.com/developments/2010/05/06/housing-inventory-rises-in-many-cities/). Inventory data here (http://online.wsj.com/public/resources/documents/retro-HOUSINGM08.html).

Comments (2)

David Monsour
Keller Williams Keystone Realty - Gettysburg, PA
ABR - www.realty-insights.com

I'm interested to see over the next few months.  I wonder if prices are going to drip and/or how much.

May 06, 2010 06:56 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for the information. I think sellers dropped prices hoping buyers would buy before the deadline.

May 06, 2010 07:02 AM