Sellers Are Cutting Home Prices

And they have to in order to sell in this market when they are competing against foreclosures and short sales.  Keep in mind that if you have to sell your home in order to buy a new home you are selling for less now but also buying for less now.  If you wait a year, yes you may get more money for your home but you will have to pay more for your new purchase. 

“Housing data has shown us that sales are on the rise this summer and aggressive pricing is one of the factors driving these sales,” said Pete Flint, Trulia co-founder and CEO, in an interview with Reuters. “The other factor is the $8,000 first time home buyers credit which we believe will continue to drive a high volume of sales for the next few months.”