SAN JOSE, Calif., June 13, 2013 /PRNewswire/ -- Realtor.com, the
leader in online real estate operated by Move, Inc. (NASDAQ: MOVE),
released its Real Estate Health Report for the month of
May 2013 today. National housing
indicators are being led by strong regional markets experiencing
key growth, as seller supply begins to respond to consumer demand
mirroring on a micro scale, indicating a slower but steady national
trend towards sustainable market recovery.
As the spring homebuying season transitions into summer, some
regions across the nation are seeing month-over-month inventories
replenishing above usual seasonal patterns as sellers begin to
respond to pent up demand. Many previously "hot" regional markets
such as Sacramento and
Stockton in California are in the process of balancing
out, as surges in month-over-month listings begin to replenish
depleted inventories.
"We are seeing large regional markets across the country leading
the way to national recovery. These regions are acting as a
microcosm for what's slowly happening in the larger real estate
market," said Steve Berkowitz, chief
executive officer of Move. "Overall, we're seeing seller confidence
beginning to respond to consumer demand. Nationally, there are more
homes going on the market for a shorter amount of time. And
this is happening in our hot markets on a much larger scale."
In the U.S., May 2013 inventories
rose by 5.82 percent over April 2013
and median list prices were 2.10 percent higher than April prices.
Last year, realtor.com reported a 1.77 percent increase in
inventory from April 2012 to
May 2012 and a 0.48 percent increase
in median list prices over April
2012. The May 2013
month-over-month increase in inventory signals the beginning of a
less volatile market and a greater balance between supply and
demand. In fact, this surge in inventory has spread to some East
Coast markets including Daytona Beach,
FL and Washington, D.C.,
whose inventories rose 21.97 percent and 12.64 percent
respectively, month-over-month.
National Data:
- In May, the total number of single-family homes, condos,
townhomes and co-ops for sale in the U.S. (1,852,740) increased by
5.82 percent month-over-month. On an annual basis, May 2013 inventory decreased by 10.11 percent;
compared to a 14.10 percent year-over-year decrease in May
2012.
- The median list price ($199,000
for May 2013) rose by 2.10 percent
over the month, and by 4.79 percent year-over-year.
- The median age of inventory of for sale listings (79) fell by
approximately 13 percent in comparison to May of last
year.
Local Data:
- May 2013 month-over-month
inventories sprang up in some regions including: Stockton-Lodi,
CA (37.06 percent increase); Sacramento, CA (35.18 percent increase);
Daytona Beach, FL (21.97 percent
increase); San Jose, CA (17.27
percent); Orange County, CA (16.50
percent); Anchorage, AK (16.06
percent); San Francisco, CA (14.87
percent); Oakland, CA (14.35
percent); Washington,
DC-MD-VA-WV(VA) (12.64 percent) and Los Angeles-Long Beach, CA (11.29
percent).
- California markets continue to
lead the list of the country's top performing housing markets in
median list price increases, along with Phoenix, AZ; Detroit, MI; Reno,
NV; Jacksonville, FL and
Orlando,
FL.
- The coastal areas of the Carolinas and Philadelphia, PA, continue to be on the list
of the 10 areas with the longest time on market. However,
Florida markets now account for
half of these markets, with a median time on market that ranged
from 105 to 119 days.
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, where 90 percent of listings are updated
every 15 minutes from more than 800 multiple listing services. For
more information on Move, please visit www.move.com or one of its
many online real estate properties including realtor.com at
www.realtor.com.
Supporting Resources
- Read more about realtor.com
- Follow @realtordotcom on Twitter
- Like realtor.com on Facebook
ABOUT realtor.com®
Operated by Move, Inc., (NASDAQ: MOVE), realtor.com®
helps connect people with the content, tools and expertise they
need to find their perfect home. As the official website of
the National Association of REALTORS®,
realtor.com® empowers consumers to make the smartest
decisions when it comes to finding a home by leveraging direct
connections with more than 800 MLSs to deliver the most accurate
and up-to-date listing information in neighborhoods across the
country, and by making timely and meaningful connections between
consumers and REALTORS®. Whether through desktop,
mobile, or tablet versions, realtor.com® is where home
happens.
ABOUT MOVE, INC.
Move, Inc. (NASDAQ:MOVE), the leader in online real estate,
operates: 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; Doorsteps, TigerLead®;
and TOP PRODUCER® Systems. Move, Inc. is based in
San Jose, California.
SOURCE Move, Inc.