trulia.com Price Reduction Tool

trulia.com has joined redfin.com and ziprealty.com in adding a price reduction tool to its property search functionality.

In an announcement about the new tool on its blog, the US company said:

“We know from search behavior on trulia.com that house hunters are seeking value in today’s market. If a home has a “price reduction” it may or may not necessarily be “a value”, but this is a tool that users have been demanding, and today — we delivered.”

And, in a press release, trulia.com said that its research has found that a massive 27% of homes currently on the market across the United States have experienced at least one price cut. Across 15 major cities, including New York City, Chicago, Los Angeles, Boston and Atlanta, the average price reduction for homes ranged from $20,000 to $295,000.

This news follows the announcement earlier this week from UK market leader rightmove.co.uk that it is launching an e-magazine that showcases properties with recent price reductions of 2 percent or more, called Property Deal Weekly.

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