Price reductions on homes listed for sale nationwide remained unchanged at 27 percent in November, according to the latest report from Trulia.com. The average reduction also remained flat at 10 percent and the total dollar amount of all reductions increased to $31.5 billion. However, despite national price reduction levels remaining stagnant, 15 major U.S. cities reached an all-time high for price reductions on home listings.
Four California cities ranked in the top 15 list of cities with record-high percentage in price reductions: Fresno, 32 percent; Long Beach, 32 percent; San Diego, 29 percent; and Sacramento, 28 percent.
Source: Trulia.com
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