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Less Sellers Dropping Their Home Prices

According to two sources online RealtyTimes.com and Trulia.com, this month of March, on a national level, fewer sellers cut their listing price on their homes and in some real estate markets it’s even resulting in bidding wars for lower-end homes. Apparently, we’re at the lowest percentage of price reductions in the last year, for homes that have been reduced. The online sources continue to say that just under 20% of homes that were for sale as of March 1st, have been reduced at least once. Compared to October and November where 26% of sellers were reducing their prices. "The total dollar amount slashed from home prices dropped to $21.6 billion and the average discount for price-reduced homes continues to hold at 11% off of the original listing price," states Trulia.com. All My Sons of Raleigh movers learnt that the biggest drop in U.S. price reductions during the past few months have been in Charlotte, NC; Colorado Springs, CO; Houston, TX; Raleigh, NC; Jacksonville, FL. The highest percentage of decline for these areas was in Charlotte (28 percent drop). 

Trulia.com reported that price reduction levels were at an all time high towards the end of last year corresponding with the Federal Housing Tax Credit's original deadline of November 2009. then price reduction levels reached a high of 26 percent for each of the months of September, October, and November. But the credit was extended and a noticeable decline in price reduction was the result. Now in March it’s only a 19 percent. For now price reductions have leveled off except for some places like Arizona, Massachusetts, Washington, D.C., Hawaii, and Maryland.

If sellers are starting to keep their home prices leveled and don’t feel the need to drop their prices in order to sell them, then that might be a sign that the real estate market is getting better. So, now may be the right time to buy a home or a condo, before prices rise. Or at least start researching the market with the help of a realtor. Look at different neighborhoods, different home layouts, the various architectural style and investigate the pricing.

Once you find your dream home at a dream price, All My Sons of Raleigh can help you with your residential move. We’re experienced in all types of moves from apartment moves to single-family home moves to even commercial moves. The Raleigh movers are backed by four generations of moving experience with an entire network of All My Sons Moving and Storage movers throughout the U.S. All My Sons of Raleigh is licensed and insured so you have nothing to worry about. And if you need help with moving supplies, All My Sons Moving Supplies online can help by delivering right to your front door moving kits with different types of boxes as well as other packing materials.