http://www.cnbc.com/id/101962864
This article shows the comparison between the sale figures for years 2013 and 2014, reflecting the difference in the house prices. The prices are being pushed lower by sellers as not many houses are being able to be sold, compared to last year. This trend is believed to continue in August, and possibly even in September and October.
July 2013 was one of the years when the house prices rose, but it seems like to be shrinking. An observation was made by Redfin where more negotiable meetings have been taken place between buyers and sellers, resulting in lower price deals.
Prices keep changing according to the geographic factors of different states. States like Florida, Texas and Arizona have been pushing their prices low, resulting in the market to be slow during the fall, whereas New England, California and New York seem to be heating up.
It is very interesting to see how the market prices can keep fluctuating due to climate factors too. As stated in the article, an observation was made that "Markets where search activity is high in autumn tend to have warm and dry Septembers and Octobers relative to their local climate in the rest of the year," according to Trulia's chief economist, Jed Kolko.
If we talk figuratively, 27% of their homes were sold above their price list, but this year it shrunk to 20%.
The other reason why seller lowers their price expectation is because buyers still suffer from low wage. As stated in my article, http://finance.yahoo.com/news/ahead-bell-us-unemployment-benefits-101937690.html, wage has yet been risen. Also, with an increase in taxes (ex: health care taxes), the consumption also decreases. This makes consumers more decisive in buying houses. One of the most important factors in buying a house is its price. Therefore, sellers need to lower the price in order to effectively sell their house.
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