U.S. homeowners cut their asking prices for the year to date by $27.8 billion with some of the biggest reductions in Nevada and Florida, states hardest hit by the property slump, Trulia Inc. said. “Sellers are resetting their expectations in line with falling prices,” Peter Flint, Trulia’s chief executive officer, said in an interview. “We’re still clearly in a downturn even though we’re coming out of it….Sellers of higher-priced properties in states that haven’t been hard-hit during the housing recession may be “catching up with the rest of the country,” Flint said.”
By Dan Levy, August 14, 2009 Bloomberg

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