With home prices beginning to flatten in many areas around the country, home sellers are slowly gaining ground in their quest to hold on to the asking price.
A new report from Trulia.com finds that of all homes on the market today, 21 percent have seen at least one price reduction. That's the second straight month that percentage has declined. Total home equity slashed dropped 14 percent, from $24.7 billion in December to 21.2 billion in January.
The South continues to improve the most with 20 percent of homes seeing price reductions. All other regions stand at 22 percent.
“Historically low interest rates currently available and tax credit incentives are the ultimate price reductions for home buyers. As rates rise throughout the course of the year, buyers will need to adjust their purchase price ceiling,” says Trulia co-founder and CEO Pete Flint.