Rants and Raves

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Nearly four years into the housing crash, home sellers finally are starting to price their homes in line with reality.

Newly listed houses have lower asking prices than homes that have been on the market for weeks or months, according to Altos Research, a Mountain View, Calif., company that analyzes data for the real-estate industry.

For example, in mid-February, the median price of a new listing in Altos' 10-city index -- covering Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and Washington -- was $437,000, compared with $483,000 for older listings.