One in four home sellers in the United States has lowered the asking price on their house, according to a report by real estate search website Trulia.com.

The total dollar amount cut from home prices in the country's 50 largest cities as of Aug. 1 was $30.1 billion, Trulia said in a statement. The average discount was 10% off the listing price.

"Sellers are feeling no relief this summer," Trulia CEO Pete Flint said. "If buyers are unqualified to buy, it doesn't matter how low interest rates are or how discounted a home is."

Of the 50 largest American cities, half had price reduction levels of 30% or more. In Minneapolis, 42% of sellers had experienced at least one price reduction, a national record.

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jschelfo

Perhaps, People all figer that their home was an investment that they should make money on, and forgot that it was their home that made it possable for them to ground themselves so they could make their living better with the comforts of home. If you get to live in your home 15yrs and it pays off, and you make the repairs nessisary to keep it beautiful, inside and out, You get everything its worth at the time of sale not at some time in history, Its home you should love it. It owes you nothing, and i bet if you have paid it off over time it pays you back, all at once, JJ

August 11 2010 at 12:17 PM Report abuse rate up rate down Reply
Sonny

Tell me.....I've seen my home in FL decrease by 50% and my home in KY that is for sale has been reduced by over 40%. Thanks Barney Franks,Freddie and Fannie.

August 11 2010 at 10:01 AM Report abuse +1 rate up rate down Reply
frank1946

My 4,300 sq.ft. Castle went up over the Summer, Economy in Colorado is pretty
good.........all the Californians have sure helped ! I finally have about $ 100
K. in equity, imagine that ! YIPPEE !

August 11 2010 at 8:46 AM Report abuse +1 rate up rate down Reply