MOVE Movano Inc

SAN JOSE, Calif., Jan. 21, 2014 /PRNewswire/ -- Realtor.com®, the leader in online real estate operated by Move, Inc. (NASDAQ: MOVE), today released its National Housing Trend Report for December 2013. While monthly December figures indicate a shift into winter's slow season, prices and housing demand for the full 2013 year close in stronger positions compared to 2012. 

Data from realtor.com® reveals the median list price for December 2013 is 8.1 percent above the levels observed in December 2012. Median age of the inventory is down by 5.1 percent and the number of units for sale is essentially unchanged, which are all positive signs of stronger market health compared to December 2012. On a month-over-month basis, December 2013 shows the first significant signs of the usual seasonal winter slow down. The total U.S. for-sale inventory of homes declined from 1,846,155 units in November to 1,731,017 units, age of the inventory rose from 101 to 112 days and the median list price declined from $197,700 to $194,500.

"Bidding wars and all-cash offers left many home buyers empty handed after the summer home buying season. In fact, many buyers remained in the market throughout the fall in an effort to get ahead of the competition – extending the summer season and making housing indicators resilient to usual seasonal patterns. The housing market in December finally displayed the expected winter seasonal slowdown in median list price, inventory and median age of inventory," said Errol Samuelson, president of realtor.com®. "As we open the new year, the first quarter inventory figures are especially crucial as our first barometer into seller confidence for the 2014 home buying season. The market is still showing significant demand, but in order to have a strong home buying season, sellers need to put their homes on the market."

While December data is strong, other factors could impact consumers when it comes to 2014 housing. The National Association of REALTORS® (NAR) REALTORS® Confidence Index results recently highlighted concern about the effect of the Qualified Mortgage rules that came into effect in January 2014, which may further decrease credit availability. Another fear was the impact on consumer finances of the implementation of the Affordable Care Act this month.

Key Market Indicators for December 2013

2013 Year Highlights:

• Price Recovery Penetrated Most Markets in 2013. The breadth of the price recovery during 2013 was extraordinary. Forty-two markets located across every region experienced year-over-year price growth in the double digits, from Oklahoma City (10.0 percent) to Stockton-Lodi, Calif. (47.3 percent). In December, median list prices for 116 markets were up by 1 percent or more on a year-over-year basis, and 42 markets were up by 10 percent or more.  Only 14 of the 142 markets tracked by realtor.com® registered annualized price declines as the year ended.    

Median List Price
10 MSAs with the Greatest Year-over-Year List Price Increases

• Demand Stayed Strong Throughout 2013. The 2013 home buying season was made famous with its inventory shortages, cash offers and bidding wars. Despite seasonal slowing, December 2013 continued to see considerably short median age of inventory with Oakland, Calif., leading the pack at 48 days. Oakland was followed by Stockton, Calif., at 56 days; Honolulu at 64 days; and San Jose, Calif., and Sacramento, Calif. at 70 days.

Median Age of Inventory
10 MSAs with the Shortest Median Days on Market

• Spring Inventory Declines Led to Fall Inventory Gains.  Many of the markets that experienced multiple bids and fast price gains due to inventory shortages in spring 2013 now have ended the year with the greatest inventory gains as sellers responded to the price increases. These include: Sacramento, Bakersfield, Calif., Orlando, Fla., Lakeland, Fla., Oakland and Fresno, Calif.

For-Sale Inventory: December 2013
10 MSAs with Greatest Year-over-Year Inventory Increases

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. We regularly review and update historical data in order to provide the most accurate and comprehensive market information available. For the month of December, the Denver, Ashville, N.C., Kansas City, Mo. and Kansas City, Kan. markets were under review and are not included in national figure counts, reflecting approximately 1 percent of total inventory. 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®
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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® Top Producer® Systems and FiveStreet.  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 from 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