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Price Reductions are Prevalent Across the Country!

The market is slowing and price reductions are prevalent both on the Monterey Peninsula and across the country, 44.4% of the current active listings that I monitor have had at least one price reduction and some have had multiple reductions. 15% of U.S. listings saw a price cut in January and more homes spent longer on the market, according to®’s latest housing report.

39%of the 50 largest markets saw a rise in the share of price reductions compared to last year. The greatest increases in price reductions in January were:

  • Las Vegas (up 16%)

  • San Jose, Calif. (up 9%),

  • Seattle (up 8%)

  • Orlando (up 6%)

  • Phoenix (up 5%)

In addition to reductions, homes are taking longer to sell in many market so inventory is increasing! We'll see what happens in the next few months.

Source: “January Housing Data Shows Uptick in Seller Price Cuts,” (Jan. 30, 2019)

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