Home prices slashed across the country

U.S. home sellers have cut their asking prices by a combined $27.8 billion since the beginning of the year, with top housing market collapse victims — Nevada, Florida and Arizona — leading the charge, according to a report from Trulia.com. Homeowners in Nevada reduced their prices by 15 percent this year, as of August 1; in Arizona and Florida, that figure was around 13 percent. Trulia CEO Pete Flint said that the findings reflect new attitudes toward the housing market. “Sellers are resetting their expectations in line with falling prices,” Flint said. “We’re still clearly in a downturn even though we’re coming out of it.”