The number of homes for sale that have had to cut their prices while on the market is declining in Honolulu, according to a report by Trulia Inc., a real estate Web site.

The firm reported price reductions are becoming less commonplace across the country, with Honolulu being among the leaders in less price cuts. It said between June and December the number of listings having recorded at least one price cut fell by 23 percent.
It reported that about one quarter of Honolulu’s listings (24 percent) had had a price reduction as of Dec. 1.
Trulia said the average reduction was 10 percent among those listings with that have dropped their asking price.