The FINANCIAL -- While many sellers continue to cut their asking prices, fewer are doing so, according to recent data compiled by ZipRealty (NASDAQ: ZIPR), national real estate brokerage, which may lead to an upward trend in home prices.

According to MLS data, more than 44 percent of home listings in 28 major markets tracked by ZipRealty in September included at least one price reduction, down 2.8 percent from September 2008.

Homes currently on the market with reduced prices have had their prices cut an average of twice, according to analysis released today by ZipRealty based on MLS data in the 28 markets tracked by Zip, according to press-release distributed by Marketwire.

Other highlights of the brokerage's monthly survey of price reduction data, compiled from local Multiple Listing Service (MLS) data in the 28 markets tracked, include:

--  Home owners slashed listing prices by an average of $25,362 in
    September, similar to the average reduction of $25,155 in August

--  Las Vegas homeowners reduced list prices by the largest percentage at
    20 percent (a 1.7 point decline compared to August), while homeowners in
    Raleigh-Durham reduced prices by the smallest percentage at 4.6 percent (a
    0.27 point incline compared to August)

--  Of the markets studied, those with the highest percentage of price-
    reduced homes are Orlando (50.4 percent), Jacksonville (50.2 percent) and
    Chicago (49.7 percent)

--  Markets with the lowest percentage of price-reduced homes are Denver
    (30.3 percent), Los Angeles (34.7 percent), San Francisco (37.1 percent)
    and Sacramento (37.2 percent)

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