June 12th, 2009 10:54 AM

Some 23.6 percent of current homes on the market in the United States have experienced at least one price cut, totaling $27.4 billion in reductions, according to research from Trulia.com. The average price-reduced home has seen a listing price reduction of 10.6 percent.

Major metropolitan areas continue to be hit hard by price reductions. Of the top 50 cities in the U.S. based on population, 33 have seen 25 percent or more of home listings reduced in price, higher than the national average of 23.6 percent.

U.S. cities that have seen at least 30 percent of homes reduced in price include:

· Jacksonville, Florida - 36 percent
· Tucson, Arizona - 32 percent
· Boston, Massachusetts - 32 percent
· Los Angeles, California - 32 percent
· Columbus, Ohio - 31 percent
· Dallas, Texas - 31 percent
· Honolulu, Hawaii - 31 percent
· Minneapolis, Minnesota - 31 percent
· Austin, Texas - 30 percent
· Washington, DC - 30 percent
· Baltimore, Maryland - 30 percent
· Las Vegas, Nevada - 30 percent

Source: Trulia.com

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