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Fire sale in the Northeast! (and California and Florida and ...)

By w¡n9Nµ7 §£@¥€r in Off Topic

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w¡n9Nµ7 §£@¥€r Grand Master

w¡n9Nµ7 §£@¥€r   123

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Oct. 8 (Bloomberg) -- U.S. home sellers cut their asking prices by a total of $28.4 billion to attract buyers as the real estate recovery stalled, Trulia Inc. said.

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Luxury homes accounted for 25 percent of all of the reductions.

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Half of the 10 states with the highest percentage of discounted homes are in the Northeast: Massachusetts, Rhode Island, Connecticut, New Hampshire and New Jersey.

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New York, California and Florida accounted for 35 percent of the total value of price cuts nationally. In Nevada, Idaho, Arizona, Wyoming, Hawaii, Utah and California, sellers have dropped an average of 13 percent off the original price, according to Trulia.

http://www.bloomberg.com/apps/news?pid=206...id=aPKdx2VMGEBg

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