SAN JOSE, Calif., Feb. 14, 2013 /PRNewswire/ -- Realtor.com®, a
leader in online real estate operated by Move, Inc. (NASDAQ: MOVE),
released its January data on the U.S. housing market today,
offering valuable insight into the latest real estate trends.
Realtor.com®'s January 2013 national
housing data indicates that listing inventories decreased 16.47
percent year-over-year; median age of inventory was at 108 days, a
9.24 percent decrease year-over-year; and median list prices are
slightly higher increasing .80 percent year-over year to
$187,000.
The findings indicate opportunities in local markets for both
buyers and sellers. With inventories at record lows and list prices
increasing, Realtor.com®'s 2013 Best Sellers Markets are
Sacramento, CA; San Jose, CA; San
Francisco, CA; Phoenix, AZ;
and Washington, DC. For consumers
looking for a competitive edge heading into the busy spring buying
season, Realtor.com®'s Top Buyers Markets are Asheville, NC; Peoria, IL; Charleston, WV; Philadelphia, PA; and Cleveland, OH.
"We connect consumers to the home of their dreams by delivering
the most comprehensive selection and accurate housing data for
homes currently on sale or for rent," said Steve Berkowitz, chief executive officer of
Move, Inc. "If inventories remain low and list prices begin to rise
over the next few months, as they did last year, conditions will be
ripe for additional markets to appreciate in 2013."
National Data
In January, the total number of single-family homes, condos,
townhomes and co-ops for sale in the U.S. decreased by 16.47
percent from one year ago, dropping to its lowest point since
January 2007, when Realtor.com® began
collecting this data. The significant year-over-year decline in
homes for sale shows that the real estate market has worked through
much of its excess inventory and, if these conditions continue,
sellers are more likely to receive their asking price. While the
median list price is essentially the same as it was one year ago,
the average amount of time a home spent on the market decreased
9.24 percent on a year-over-year basis.
- The national for-sale inventory for single family homes,
condos, townhomes and co-ops (SFH/CTHCOPS) (1,477,266) continued to
decline in January, falling by 5.63 percent during the month and by
16.47 percent on an annual basis.
- The national median list price for SFH/CTHCOPS ($187,000) increased .80 percent in January
and is now slightly higher than it was one year ago.
- The median age of inventory of for-sale listings was 108 days
in January, down 2.70 percent from December and 9.24 percent below
the median age one year ago (January
2012).
Local Data
Regional January data suggests that at a local level, trends for
both growth and decline observed in 2012 are continuing into 2013.
States that were once at the center of the housing crisis,
including Arizona, California and Washington, are continuing on upward
trajectories. In several markets, particularly in California, home sellers are seeing a dramatic
advantage when putting their homes on the market with some of the
best prices in recent years. Alternatively, markets in the older
industrialized parts of the Midwest and the East will likely
continue to struggle without a significant turnaround in their
local economies.
- Realtor.com®'s 2013 Best Sellers Markets are Sacramento, CA; San
Jose, CA; San Francisco,
CA; Phoenix, AZ; and
Washington, DC.
- Realtor.com®'s Top Buyers Markets are Asheville, NC; Peoria, IL; Charleston, WV; Philadelphia, PA; and Cleveland, OH.
A number of factors will contribute to the continuation of a
housing recovery this year, including the strength of the economy,
the cost and availability of mortgage credit, consumer expectations
regarding future housing prices and the success of efforts to
reduce the number of foreclosures.
Realtor.com® regularly tracks real estate data and develops
monthly reports featuring the number of listings, median age of
inventory and median list price across the U.S. and in specific
markets, as well as provides year-over-year and month-over-month
changes. These reports are the only ones pulled directly from the
Realtor.com® database that updates every 15 minutes from more than
800 multiple listing services. For more information, please visit
www.Realtor.com.
ABOUT MOVE, INC.
Move, Inc. (NASDAQ:MOVE) is the leader in online real estate and
operator of REALTOR.com®, the official website of the National
Association of REALTORS®; Move.com, a leading destination for new
homes and rental listings, moving, home and garden, and home
finance; ListHub™, the leading syndicator of real estate listings;
Moving.com™; SeniorHousingNet; SocialBios; TigerLead®; and TOP
PRODUCER® Systems. Move, Inc. is based in San Jose, Calif.
ABOUT REALTOR.COM®
REALTOR.com®, a leader in online real estate, is operated by
Move, Inc., (NASDAQ: MOVE) and is the official Web site of the
National Association of REALTORS®. As the #1 homes-for-sale site,
Realtor.com® currently offers potential home buyers access to over
four million property listings. It also provides REALTORS® and the
home sellers they represent with the Internet's largest real estate
marketplace. Agents and companies have the power to customize
REALTOR.com® resources to maximize their brand and
productivity.
SOURCE Move, Inc.