More U.S. homeowners slashed their asking prices for a third straight month in August to lure buyers into a market hindered by high unemployment, a study showed Wednesday.
Owners cut prices on 26% of homes for sale last month, up from 25% in July and the highest since a matching 26% in October 2009, real estate websiteTrulia.com said.
Lingering job market weakness, a hefty supply of foreclosed homes and soft demand after the homebuyer tax credit ended in April kept buyers in the driver's seat in many markets.
"Nationwide, sellers continue to slash prices and this is a worrisome trend," said Pete Flint, Trulia's chief executive. "However, we're seeing gradual improvement in many U.S. cities-- several for consecutive months."
Homeowners in some areas still grapple with pricing realistically for a housing market that faces many hurdles and a snail's-pace recovery, according to Trulia.
