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price reduction trendsBenzinga
•72% Informative
The share of home listings with price cuts reached a two-year high in July , increasing by 3.4% compared to the previous year .
Tampa , Florida led the pack with a 9.7% increase in the share of price reductions compared to last July .
Tampa is the most expensive city in the U.S. , followed by Charlotte , North Carolina and Phoenix .
Mortgage application index is still "scraping at the lowest level in 30 years ," Gerli says.
The Federal Reserve is expected to potentially cut rates as early as September .
The coming months will likely prove important in determining whether the current trend of price cuts will accelerate to meet some experts believe is necessary.
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69
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67
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