Buyers and prospective renters might be getting a break in the year to come. While inventories are still shrinking, landlords and sellers may be signaling that relief is in sight: they’re dropping prices.
Trulia examined more than a year of data and explains in our recent article Cut-Rate Housing that an increasing number of landlords and sellers have cut prices and rents for properties.
Quick summary of our findings
·Eighty of the top 100 metro areas saw an increase in the share of rental listing with price reductions;
·Seventy of the 100 largest metros saw the share of for-sale listings with a price reduction increase from last year to this year.
·Texas metros dominates the list with the largest percentage point increase of rental listings with price reductions Dallas +10.74pp, Houston +8.58pp, Austin +7.18pp, and Fort Worth +6.50pp.
·San Francisco had the highest percentage point increase in for-sale listings with price reductions, Houston and Dallas nabbed second and third respectively.
Graphics and Tables
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% of Rental Listings that Saw Price Reduction |
||||
|
Ranking |
US Metro |
This Year |
Last Year |
Percentage Point Change in % of Listings With Price Reductions, Last year vs This Year |
|
1 |
13.84% |
3.09% |
10.74 |
|
|
2 |
17.04% |
8.45% |
8.58 |
|
|
3 |
21.31% |
13.55% |
7.77 |
|
|
4 |
15.63% |
8.46% |
7.18 |
|
|
5 |
12.19% |
5.69% |
6.5 |
|
|
6 |
21.17% |
15.83% |
5.34 |
|
|
7 |
18.86% |
13.54% |
5.32 |
|
|
8 |
16.08% |
11.35% |
4.73 |
|
|
9 |
14.86% |
10.45% |
4.44 |
|
|
10 |
14.37% |
9.99% |
3.89 |
|
% of For-Sale Listings that Saw Price Reduction |
||||
|
Ranking |
US Metro |
This Year |
Last Year |
Percentage Point Change in % of Listings With Price Reductions, Last year vs This Year |
|
1 |
8.06% |
4.99% |
3.07 |
|
|
2 |
14.74% |
11.91% |
2.84 |
|
|
3 |
12.71% |
10.17% |
2.53 |
|
|
4 |
12.09% |
9.89% |
2.19 |
|
|
5 |
12.33% |
10.15% |
2.18 |
|
|
6 |
10.10% |
7.95% |
2.15 |
|
|
7 |
14.52% |
12.48% |
2.04 |
|
|
8 |
16.79% |
15.14% |
1.65 |
|
|
9 |
15.82% |
14.20% |
1.61 |
|
|
10 |
15.87% |
14.44% |
1.43 |
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