We’re always on the lookout for a bargain – no matter what we’re buying in America we’re wired to find the best deal. So where are the top 10 cities with homes on the market that have seen the most price cuts? The folks over at Realtor.com ranked the 300 largest metro areas by share of homes for sale that experienced priced reductions over the past year. This is an interesting list because there are a multitude of reasons why homes could be seeing price reductions. However, good data means better information for that next deal.
“A price reduction can happen for lots of reasons, including adjusting an unrealistic initial price, a new sense of urgency, or motivation by a seller, or declining market trends,” said Jonathan Smoke, chief economist for Realtor.com
The top 10 cities with the most price cuts are:
- Midland, TX
- Phoenix, AZ
- Anchorage, AK
- Austin, TX
- Springfield, IL
- Denver CO
- Vallejo, CA
- Baltimore, MD
- Palm Bay, FL
- San Diego, CA
