The Real Deal Miami

One in four U.S. homes sees price cut

September 11, 2009 01:53PM

More than one in four U.S. homes on the market as of Sept. 1 had seen their prices cut at least once, according to data released today by real estate search Web site Twenty-six percent of homes on the market had seen their prices cut, up from 25 percent a month earlier. The company said the increase was due to the upcoming expiration of the $8,000 first-time homebuyer tax credit and to sellers’ desire to take advantage of the peak sale season. Home prices were discounted by an average of 10 percent, the same rate as in the previous month.