(Reuters) – The percentage of U.S. home sellers who cut their asking price rose in May, but price reductions were smaller, real estate website Zillow.com said in a report.  Prices of nearly one in four homes, or 23.6 percent, listed for sale on the Zillow website had been cut at least once as of the [...]

(Reuters) – Home prices continued to weaken in many U.S. markets during January as the impact of government tax credits on housing demand lost momentum, real estate Website Zillow.com said on Tuesday.   Nationally, while the annualized appreciation rate continued to rise, increasing from negative 5.5 percent in December to negative 4.8 percent in January, [...]

NEW YORK (Reuters) – Homebuyers in much of the United States paid thousands of dollars below asking prices in January, and gained negotiating power for a second straight month, real estate website Zillow.com said on Wednesday.  According to Zillow Real Estate Market Reports for January, buyers paid 2.8 percent less, or a median of $5,823 [...]

NEW YORK (Reuters) – The percentage of U.S. home sellers who cut their asking price declined again in February and sellers made slightly smaller reductions in prices, real estate website Zillow.com said on Wednesday.  The median list price of homes, however, fell in January, Zillow said in a report, which was obtained by Reuters ahead [...]

The good news:  Zillow.com, What a fantastic tool for running a quick market analysis on your property.
The bad news: Zillow has had to cut its work force by 27% or 40 jobs.  
Their decision was based on the current economic climate and at this point it appears that they will be “battening down the hatches” until [...]