In most of America's local real estate markets, home values have dropped off dramatically from their peaks, although prices have begun to move off their lows.
Many homeowners have chosen to accept a lower price and when combined with rising prices, this may signal an attractive buying opportunity in US real estate. In a report by Trulia.com, the real estate website found that 20% of US listings have seen at least one price reduction, compared to 27% one year earlier.
Trulia's co-founder and CEO, Pete Flint, sees "early signs of stabilization on the national level" and expects "the next few months to be very telling for whether the US housing market can be self sustaining over the longer-term."
So, which US cities have seen the highest proportion of home listings getting price reductions? Click ahead to find out!
By Paul Toscano
Posted 21 April 2010
Note: If cities have the same proportion of homes with price reductions, ranking is then determined by the total price reduction value.