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POSTED: Sunday, August 16, 2009

Isles ninth in home price cuts

Twenty-five percent of homes nationwide listed for sale as of Aug. 1 have come down in price at least once, according to Trulia Inc., a California-based company that tracks such data.

Honolulu, at 32 percent, is tied for ninth among the top 50 U.S. cities for the percentage of listings with price reductions.

The average price reduction in the Honolulu market was 10 percent, on par with the national average price reduction.

Nationwide, luxury homes listed at $2 million and above are experiencing the most discounting with average price cuts of 14 percent.