Price cuts in Seattle homes becoming more common

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Sarah Anne Lloyd | Curbed Seattle

The Seattle market is seeing a price slowdown, and price cuts are becoming increasingly common in the area. Inventory is also going up in the region, meaning buyers will have more to choose from when looking for a new place to call home. 

It’s increasingly common for Seattle-area home listings to slash their asking prices, according to data released earlier this month by Zillow.

While lowering an asking price isn’t totally uncommon, the percentage of listings cutting their prices has nearly doubled since last year in the Seattle metro area, which includes Tacoma, Everett, and Bellevue, rising from 6.9 percent in June 2017 to 12 percent in June 2018. The difference is even more dramatic in Seattle proper, with more than double the listings asking less than when they were first listed, jumping from 4.3 percent to 10.7 percent over the same time period.

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