Nearly half of homes for sale now discounted: ZipRealty
Sellers cut prices on 323,316 homes or 47.8% of the housing inventory in 26 markets, according to ZipRealty, a California-based online real estate brokerage. It's also a 25% increase from a year ago. ZipRealty tracked discounts of more than 675,000 homes for sale in those markets. The homes that had been discounted has prices slashed at least twice, and the median reduction amount was $19,165, or 7.25% of the listing price. The heaviest discounts came in Florida. Miami sellers cut prices by 12% on average, the highest discounts of any market. Double-digit discounts also came in Jacksonville and Orlando. "The summer home-selling season never kicked in this year, leading anxious sellers to slash prices," according to ZipRealty. In July, the National Association of Realtors reported home sales fell to the lowest level in a decade. ZipRealty reported the median price in the 26 markets was $245,265, down 1.75% from the previous month. The lowest prices came in Las Vegas, where the median reached $140,000. Write to Jon Prior.