1. We are asked to find the percentage decrease in the asking price of a house. 2. The original asking price was 124500. 3. The new asking price is 119000. 4. The formula for percentage decrease is: $$\text{Percentage Decrease} = \frac{\text{Original Price} - \text{New Price}}{\text{Original Price}} \times 100$$ 5. Substitute the values: $$\frac{124500 - 119000}{124500} \times 100$$ 6. Calculate the difference: $$\frac{5500}{124500} \times 100$$ 7. Simplify the fraction: $$\frac{\cancel{5500}}{\cancel{124500}} \times 100 = \frac{5500}{124500} \times 100$$ 8. Perform the division: $$0.044177 \times 100 = 4.4177$$ 9. Round to 1 decimal place: $$4.4\%$$ 10. Therefore, the asking price has decreased by 4.4%.