Cities With the Most Home Price Reductions

Source: Trulia.com For the nation's real estate market, home valuations have dropped off dramatically. However, the actual listing prices have not fallen as much, with realtors and sellers clinging onto original valuations, trying to minimize losses on their investments.But reduced prices could significantly increase the chances of a final sale, with homeowners finally choosing to cut their losses and accept a lower price. In a recent report by Trulia.com, the real estate website found that 21% of US listings have seen at least one price reduction. The average discount for price-reduced homes continues to hold at 11 percent off of the original listing price. This was also the second straight month where inventory levels have dropped for single family homes and condos across the United States.So, which US cities have seen the highest proportion of home listings getting price reductions? Click ahead to find out!Posted 12 Jan 2010

Source: Trulia.com Percent of Listings with Price Reductions: 28%Average reduction in Dallas: 8%$5,495,0005 Bedrooms6 Baths10,000 sqftSingle-Family HomePrice reduced by $500,000Total % reduced: 8.3%

Source: Trulia.com Percent of Listings with Price Reductions 29% (Tied)Average reduction in Boston: 7%$750,000 7 Bedrooms1 Full 2 Partial Baths3,563 sqftSingle-Family Home Price reduced by $45,000Total % reduced: 5.7%

Source: Trulia.com Percent of Listings with Price Reductions 29% (Tied)Average reduction in Mesa: 14%$1,200,0003 Bedrooms4 Baths3,508 sqft Single-Family HomePrice reduced by $100,000Total % reduced: 7.7%

Source: Trulia.com Percent of Listings with Price Reductions 29% (Tied)Average reduction in Indianapolis: 9%$1,150,0006 Bedrooms6 Baths10,356 sqftSingle-Family HomePrice reduced by $70,000Total % reduced: 5.7%

Source: Trulia.com Percent of Listings with Price Reductions 29% (Tied)Average reduction in Baltimore: 12%$726,0004 Bedrooms3 ½ BathsSingle-Family HomePrice reduced by $69,500Total % reduced: 8.7%

Source: Trulia.com Percent of Listings with Price Reductions 30% (Tied)Average reduction in Charlotte: 10%$1,500,0006 Bedrooms 6 ½ BathsSingle-Family HomePrice reduced by $450,000Total % reduced: 23.1%

Source: Trulia.com Percent of Listings with Price Reductions 30% (Tied)Average reduction in Tucson: 10%$2,249,0005 Bedrooms6 Baths7,866 sqft Single-Family HomePrice reduced by $226,000 Total % reduced: 9.1%

Source: Trulia.com Percent of Listings with Price Reductions 32% (Tied)Average reduction in Omaha: 7%$747,0003 Bedrooms2 ½ Baths3,479 sqftSingle-Family HomePrice reduced by $13,000Total % reduced: 1.7%

Source: Trulia.com Percent of Listings with Price Reductions 32% (Tied)Average reduction in Seattle: 10%$2,995,0005 Bedrooms5 Baths4,400 sqftSingle-Family HomePrice reduced by $445,000Total % reduced: 12.9%

Source: Trulia.com Percent of Listings with Price Reductions 33% (Tied)Average reduction in Portland: 9%$1,195,0004 Bedrooms2 Full 2 Partial Baths5,176 sqft Single-Family HomePrice reduced by $180,000Total % reduced: 13.1%

Source: Trulia.com Percent of Listings with Price Reductions 33% (Tied)Average reduction in Milwaukee: 10%$1,150,0005 Bedrooms3 ½ Baths6,567 sqft Single-Family HomePrice reduced by $100,000Total % reduced: 8%

Source: Trulia.com Percent of Listings with Price Reductions 36%Average reduction in Jacksonville: 11%$1,995,0006 Bedrooms5 Baths5,675 sqft Single-Family Home Price reduced by $705,000Total % reduced: 26%

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