SAN JOSE, Calif., Oct. 16, 2013 /PRNewswire/ -- Realtor.com®,
the leader in online real estate operated by Move, Inc. (NASDAQ:
MOVE), today released the realtor.com® National Housing Trend
Report for September 2013. The
proprietary report is aggregated from real-time listing counts
through direct relationships with more than 800 multiple listing
services (MLSs) around the country, representing 98 percent of all
for-sale properties in the U.S.
The report highlights a strong continuation of
equilibrium-oriented trends identified last month. While key
indicators show a relatively consistent pace with August figures,
the year-over-year perspective shows a strong performance in median
list price and decline in days on market, which signal a dramatic
rebalancing compared to the beginning of this year. A return to
year-ago inventory levels, though steadying, still implies broad
housing shortage conditions.
"Our September data on inventory counts, median list
prices, and median time on market has shown another month of steady
leveling, but the recovery certainly remains uneven in some
pockets," said Errol Samuelson,
president of realtor.com®. "Some of the more industrial-based
markets clearly continue to struggle, yet others are showing
significant price gains over this time last year. While we are
pleased to see a continued trend toward a healthy market balance,
imminent economic factors could pose a significant threat to these
improvements."
Key Market Indicators for September
2013
|
September
2013
|
Year-over-Year
Percentage
Change
|
Month-over-Month
Percentage
Change
|
Number of
Listings
|
1,944,018
|
-2.04
percent
|
-1.68
percent
|
Median Age of
Inventory
|
93
|
-10.58
percent
|
1.09
percent
|
Median List
Price
|
$199,500
|
6.40
percent
|
-0.20
percent
|
National Perspective:
The total U.S. for-sale inventory of single-family homes,
condos, townhomes and co-ops declined slightly in September to a
total of 1,944,018 units, down 1.68 percent from August. However,
after six consecutive months of steady growth, inventories are now
just 2.04 percent lower than they were one year ago—a dramatic
turnaround compared to earlier this year that signals a greater
balance between demand and supply.
The median age of inventory rose slightly in September from 92
to 93 days, but is down by 10.58 percent on a year-over-year basis,
suggesting that properties continue to turn over quickly, despite
the end of the traditional home buying season. The median
list price fell slightly in September, but remains 6.40 percent
higher than it was one year ago.
Market Highlights:
Of particular note in September's figures are a handful of
markets showing very fast-paced sales cycles, some at roughly half
of the national median "days on market" figure of 93 days, with
Oakland the stand-alone at just 28
days. Many of these markets are seated in the hot "sand
state" regions, with a few outliers such as Denver, Detroit, Seattle and Washington, DC.
Median Age of Inventory
10 MSAs with
the Shortest Median Days on Market
September
2013
|
Oakland,
Calif.
|
28
|
San Francisco,
Calif.
|
45
|
Denver,
Colo.
|
45
|
San Jose,
Calif.
|
45
|
Stockton-Lodi,
Calif.
|
45
|
Detroit,
Mich.
|
48
|
Phoenix-Mesa,
Ariz.
|
50
|
Seattle-Bellevue-Everett, Wash.
|
52
|
Washington,
DC-MD-VA-WV(DC)
|
52
|
Sacramento,
Calif.
|
52
|
This month's figures also paint a picture of three primary
sectors of individual market health:
- Stabilizing Hot Markets. Many markets in
California, Arizona and Nevada that were spotlights of the housing
crisis have been on the road to recovery. More than 20 percent of
the 146 markets covered by realtor.com® reported exceptionally
large year-over-year list price gains of 12 percent or more, many
with year-over-year inventory declines still in the double
digits.
- Struggling Sector. The recovery has yet to make an
impact on markets where prices are the same or lower than they were
last year at this time. Also representing just over 20 percent the
146 markets tracked by realtor.com®, many of these are located in
the Midwest, South and Northeast -- including Cleveland, Trenton,
N.J., Hartford, Conn.,
Cincinnati and Buffalo, N.Y. While the economy
continues to take its toll in many of these markets, most are
displaying small but promising signs with both inventories and age
of inventories down compared to one year ago.
- Responsive Heartland. A number of major heartland
markets that were spared the full force of the housing crisis, in
large part due to local economic strength, had a strong buying
season throughout the summer. Chicago, Boise,
Idaho, Minneapolis-St. Paul,
Minn., Ann Arbor, Mich.,
Nashville, Tenn. and Denver all have achieved price appreciation of
12 percent or higher over last year.
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 MLSs. For more information on
Move, please visit www.move.com or one of its many online real
estate properties including 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.
Forward-Looking Statements
This press release may contain forward-looking statements,
including information about management's view of Move's future
expectations, plans and prospects, within the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. These statements involve known and unknown risks,
uncertainties and other factors which may cause the results of
Move, its subsidiaries, divisions and concepts to be materially
different than those expressed or implied in such statements. These
risk factors and others are included from time to time in documents
Move files with the Securities and Exchange Commission, including
but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other
unknown or unpredictable factors also could have material adverse
effects on Move's future results. The forward-looking statements
included in this press release are made only as of the date hereof.
Move cannot guarantee future results, levels of activity,
performance or achievements. Accordingly, you should not place
undue reliance on these forward-looking statements. Finally, Move
expressly disclaims any intent or obligation to update any
forward-looking statements to reflect subsequent events or
circumstances.
SOURCE realtor.com