NEW YORK (Reuters) – One in four U.S. homes for sale [in] August 1 had their prices marked down at least once since landing on the market, data compiled by real estate website Trulia.com showed on Friday.
A total of 24.4 percent of homes had their prices reduced in July, up from June’s 23.6 percent. The average discount was 10 percent from the original price, or $40,173 of a median house value, Trulia.com said in its monthly price report obtained exclusively by Reuters prior to its release. The average markdown dropped slightly from June’s 10.4 percent, Trulia said.
These lowered prices, however, are not necessarily a negative.
“Competition heats up in the summer as more inventory comes onto the market,” Pete Flint, Trulia co-founder and CEO, said in an interview with Reuters.
“Sales are increasing but prices are still falling,” Flint said.
“Homes that are priced competitively are the ones that are selling in today’s market,” he said.
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