The Housing Market's Black Friday Is in August

Home price cuts are most common from May through October, peaking in August at 13.9 percent, and they're rarest in December at 8.3 percent.

Only 2 of the 100 largest metros did not see home price cuts in December. According to data from Trulia, Richmond, Virginia has the least amount of price reductions in February, and in Cape Coral-Fort Myers, Florida, it's in September.

Price cuts are likely driven by sellers who have sat through the summer months waiting for a buyer and don’t want to keep waiting into the fall and winter months as selling activity declines in most places ... By this time, most sellers and agents are holding out hope for renewed interest in early spring as potential buyers ramp up their searches again.

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