Tri-Cities housing market: Sellers blink, price cuts surge - Elizabethton Star

Tri-Cities housing market: Sellers blink, price cuts surge - Elizabethton Star

The ground shifted under Tri-Cities home sellers’ feet in July. For the second month in a row, home sales slipped, and this time price reductions surged. They were at their highest level in seven months. Of all the homes sold last month, 37% had a price reduction before finding a buyer. That’s not the biggest share we’ve seen this year, but the size of those reductions was a record: an average cut of $30,401. That’s well above the usual $20,000-…