According to a monthly review of multiple listing services (MLSs) in 26 major U.S. markets conducted by the national online real estate brokerage ZipRealty, home sellers in Las Vegas, Phoenix!! and South Florida continued to slash prices in March in hopes of attracting buyers. (and it’s working!) While the number of “for sale” homes in Las Vegas declined by more than 6 percent from February to March, the median price reduction increased to $24,000, a month-to-month jump of $1,000. Areas with the largest percentage of price reductions included Jacksonville, Florida (50.3 percent); Phoenix (50.1 percent) Douuughh!!! and Orlando, Florida (47.2 percent). Markets with the lowest percentage of price-reduced MLS-listed homes were Denver (28.9 percent), San Francisco (32.3 percent), and San Diego (33.9 percent). It’s history repeating itself; San Diego already on the way back up and Phoenix soon to be right on its tail to recovery, we hope!
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