According to Trulia.com, more sellers are holding firm on their asking price. The number of home owners reducing their list price at least once was down to only 21% as of January 1st. That percentage was 22% in December and 25.6% in November. In addition the number of cities reporting average price cuts of 30% or more was down by 50% this month, with the average price reduction nationally hovering around 11%.
What does this mean? Is enough finally enough? Are prices finally bottoming out? We're not out of the woods yet, but it's my humble opinion that we are definitely on our way.
Source: National Association of Realtors
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