Real estate information site Trulia.com says that as of July 1, one out every four people trying to sell a home in the U.S. has had to lower their asking price at least once this year. The average listing has been reduced by 10%. The grand total of the price reductions adds up to $27.1 billion.
In Boston, 35% of all listings had a price reduction totaling $54,084,186.00 with an average reduction by 8%. Hmm, I wonder if any were in the Back Bay.
File Under: Sorry Bradley