6 cities slashing home prices

Homes in these six cities had the steepest price drops of anywhere in the nation during the past six months. Here are a few of the deals you can find.

1 of 6
Current price: $475,000
# of reductions: 3
Total price cut: 17%

The Atlanta metro area has suffered though a long period of rising foreclosures. In 2010 filings increased 22% after jumping more than 40% the year before.

Home prices were dragged down about 6% in the last six months of 2010, and sellers followed suit, dropping their prices an average of 9%. Homes in Atlanta normally spend an average of 65 days on the market before getting a price cut, according to Trulia.

At least one real estate broker, Patti Junger with Coldwell Banker Atlanta, believes the market may be stabilizing now. She said sales were up by about a third in March, though prices are still soft. "Properly priced, homes are flying off the market," she said.

This listing didn't sell at $575,000 or $525,000 but went into contract almost immediately after its price was cut to $475,000, a 17% discount from its original list.

Any market recovery in Atlanta will be very modest, in Junger's opinion. She does not expect much more than 1% or 2% price gains over the next few years.

For more information: Coldwell Banker

NEXT: Seattle
Last updated April 07 2011: 4:32 PM ET
Source: Market data from Trulia
Inside Christina Aguilera's home This Beverly Hills mansion has a rock n' roll pedigree. More
Where to rent vs. buyDetroit and Columbus boast killer deals, but you should rent in NYC and Seattle. More
America's ugliest homes From the "We Buy Ugly Homes" people More
  • Find Homes for sale
    Real estate and homes for sale on Trulia

  • Property Type
  • Find a home in:
  • New York | Atlanta | Chicago | Los Angeles
  • Washington D.C | Houston | Philadelphia | More options
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
by Bankrate.com
View rates in your area
Find personalized rates:
Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.