Home prices nationwide are falling by an average of 42% for all active listings, with many parts of the West, including Boise, and the Sun Belt experiencing some of the deepest cuts.
Recent data provided by Parcl Labs, a real estate analytics firm, indicates a cluster of markets in the west and the southern U.S. experiencing the biggest reductions, with Colorado Springs, Colorado, topping the chart with 56.3% of its listings slashed from when homes there first listed for sale.
Boise, with more than 5,200 active listings, has registered price cuts of roughly 39%, according to the Parcl Labs figures. The average price per square foot in the city is listed at $270. The report also shows listings down 2.8% statewide, and 3.1% versus the national average…