Florida has biggest home price reduction

Florida may be the state for movers to target if they're are looking for the highest savings on a home. The state is leading the nation in percentages of home discounts, according to the South Florida Sun Sentinel.

Discounts from the original home list prices reduced by 12.5 percent, 12.1 percent and 11.9 percent in Orlando, Jacksonville and South Florida, respectively, according to reports from ZipRealty.

The companies spokesman, John Oldham, also announced that the state has topped the discount rates ranking for three months in a row.

The Miami-Ft. Lauderdale-Palm beach region nearly topped the list of highest reduction in median home prices at $25,000, following only behind San Francisco, Orange County and San Diego in California.

"Inventory has grown throughout much of the year; as sellers face the pressure of more buying options, they seem to be discounting to attract buyers resulting in list prices being cut for over 46 percent of the homes," Oldham said.

Overall, median list prices and home price discounts were down 0.19 and 1.39 percent, respectively, in the 26 metropolitan areas measured by the company. 

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