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Home Price Reductions Are Increasing, Especially at High End; Builder Confidence Improves

Home Price Reductions Are Increasing, Especially at High End; Builder Confidence Improves

Recent research from Trulia shows home price reductions are increasing . The share of homes for sale that have had at least one price cut since being listed is the highest since 2014. This, the company says, is more evidence that the market may finally be tilting in homebuyers favor, but the benefits are certainly not evident across the board, or maybe even where they are most needed. During the first part of this year the share of listings with a price changes stayed much as it was in 2017, but then shot up in July and August. When this is coupled with the slowdown in home price growth that has been noted in most indices, and inventories that are finally creeping up, the increase in price cuts, according to Trulia, could be a critical third confirmation that things may finally be shifting
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