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Phoenix leads the nation in home price cuts.
Nearly a third of listings in the Phoenix metro showed price drops in April, according to a new Realtor.com report.
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Phoenix was followed by Tampa, Florida (25%), San Antonio, Texas (25%), Denver (24%), and Portland, Oregon (24%), according to the report.
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These price drops come at a time when last week’s 6.51% mortgage interest rate hit a nine-month high, said Jim Belfiore, CEO and founder of Chandler-based Belfiore Analytics.
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Read more of this story from the Business Journal.