Amid continued falling home prices, U.S. homebuyers are negotiating even more discounts at the bargaining table, according to July’s Zillow Real Estate Market Reports.
Buyers paid 3.3%, or a nearly $7,039, less than the last listing price on homes for sale during the month of July 2009. That is down slightly from 3.5%, or $7,630, in June, and substantially down from 4.6% ($10,260) in January.
Meanwhile, 22.8% of all homes listed for sale had at least one listing price reduction as of Sept. 1, 2009. The median U.S. price reduction was 6.5% off the original listing price. Homes listed for sale during August were listed for a median 96 days, up from 91 in July.