UPDATE: As of this morning, 43.4% of all US homes for sale are now undergoing price cuts.

[Carter's damage to the economy didn't bottom out until a couple of years after Reagan took over, same as is happening now.]

This is the highest read all year, up an additional 70 basis points from this time last week.

Two tiers continue to emerge at the top of price cutting behavior.

Tier 1 (highlighted in white) - Danger zone:

Oregon: 52.3% (+96 basis points week on week)

Colorado: 52.1% (+1.2% week on week)

Tier 2 (highlighted in blue) - Elevated on watch zone:

North Carolina: 49.1% (+82 basis points week on week)

Indiana: 48.9% (+62 basis points week on week)

South Carolina: 48.4% (+20 basis points week on week)

Texas: 48.2% (+62 basis points week on week)

Utah: 47.8% (+20 basis points week on week)

Arizona: 47% (flat week on week)

Notably, the rate of acceleration in the tier 1 danger zone states of Oregon and Colorado is outpacing tier 2.

My house is at least 100% over-appraised to overcome the 1% residential property tax cap law [IN].

Believe me when I tell you that my 720 sqft house and 480 sqft attached garage and 480 sqft detached garage on a third of an acre [120' x 138.5', $765 in 1978 ] lot isn't worth $150,000+ now.

FWIW; when I built this place as the era of Carter dragged on, around 1979, it was the last house built in the area until last year when they built two a half a block west of me.

I did build Chris across the street, a really sweet two and a half car detached garage about 16 years ago.

This year, they're building two more diagonal from me. Same contractor.

Chris knows the dude, I don't. He was paying Chris $100 a whack [20 min. job] to cut the vacant lots to keep city code enforcement off his ass.