SAN JOSE, Calif., Aug. 20, 2014 /PRNewswire/ -- For the first
time in three years, July data shows the price appreciation and
inventory increases established during peak buying season (from
April to July) continue their upward trend, untouched by external
economic factors, according to the realtor.com® July National
Housing Trend Report released today. Move, Inc. (NASDAQ: MOVE)
operates realtor.com®.
"In July 2012 and 2013, we saw
external economic factors overwhelm the healthy gains established
in the housing market during the spring home buying season," said
Jonathan Smoke, chief economist for
realtor.com®, the leader in providing consumers with the
most accurate U.S. residential listings online*. "This year,
we're ending the traditional season with high buyer and seller
confidence demonstrated by price appreciation, increases in
inventory and quick home sales."
July National Housing Indicators for 2012 - 2014
Year
|
Total
Listings
|
Y/Y
|
M/M
|
Median List
Price
|
Y/Y
|
M/M
|
Median Age of
Inventory
|
Y/Y
|
M/M
|
Jul-14
|
1,979,475
|
2.3%
|
4.5%
|
$214,900
|
7.5%
|
-0.1%
|
82 days
|
-3.5%
|
7.9%
|
Jul-13
|
1,935,623
|
-6.4%
|
1.3%
|
$199,900
|
5.3%
|
0.0%
|
85 days
|
-16.7%
|
6.3%
|
Jul-12
|
2,067,430
|
-14.1%
|
-0.8%
|
$189,900
|
0.0%
|
0.0%
|
102 days
|
-1.0%
|
7.4%
|
Realtor.com® July 2014
national housing data reveals home owners are more optimistic about
selling than in previous years. This month, the number of homes on
the market increased 2.3 percent compared with last year and
increased 4.5 percent over June. One factor fueling this uptick in
inventory is a strong 7.5 percent increase in median list prices
year-over-year. Despite higher prices and more homes on the market,
buyers are snatching up properties faster than last year. Median
age of inventory for July 2014 is 82
days, three days faster than 2013.
"This is the first time, since the beginning of the recovery,
that we expect to see positive momentum throughout the second half
of the year," Smoke projected. "While seasonal patterns are
emerging in July month-to-month comparisons, all other metrics
point to fundamental market health and a build-up of momentum."
While July growth may seem modest, it is in stark contrast to
the housing indicators experienced over the last two years. In
April 2013, mortgage interest rates
began to increase significantly, making potential mortgage payments
more expensive for home buyers. By July
2013, this slow but steady tightening of home buyer budgets
dampened demand. As a result, month-over-month increases in
inventory lessened and properties spent more time on market.
Additionally, in July 2012
concerns of broad debt defaults and economic weakness in
Europe influenced big decreases in
the stock market. Overall economic uncertainty contributed to weak
consumer confidence, which influenced potential home buyers to
remain on the sidelines while low prices made owners reluctant to
list. As a result, July 2012
median list prices remained flat both month-over-month and
year-over-year. Inventory remained at very low levels and homes
spent 102 days on the market.
How Data Is Collected
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 to provide the
most accurate and comprehensive market information. As a result,
some markets may be subject to periodic adjustments in data. For
more information about Move, 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
*"Most accurate" claim(s) pertain to the accuracy of home
listings, are based on comparison with other national listing
portals, and are based on the greater frequency of listings
updating on realtor.com®.
About Move, Inc. and realtor.com®
Move,
Inc. (NASDAQ: MOVE), a leading provider of online real estate
services, operates realtor.com®, which connects people
to the essential, accurate information needed to identify their
perfect home and to the REALTORS® whose expertise guides
consumers through buying and selling. As the official website for
the National Association of REALTORS®,
realtor.com® empowers consumers to make smart home
buying, selling and renting decisions by leveraging its direct,
real-time connections with more than 800 multiple listing services
(MLS) via all types of computers, tablets and smart telephones.
Realtor.com® is where home happens. Move's network of
websites provides consumers a wealth of innovative tools and
accurate information including Doorsteps®,
HomeInsightSM, SocialBiosSM, Moving.com™,
SeniorHousingNetSM, homefairSM and
Relocation.com. Move supports real estate agents and brokerages by
providing many services to grow their businesses, including
ListHub™, the nation's leading listing syndicator and centralized
intelligence platform for the real estate industry;
TigerLead®; Top Producer® Systems; and
FiveStreetSM; as well as many free services. Move is
based in the heart of the Silicon Valley — San Jose, CA.
REALTOR® and REALTOR.COM® are trademarks
of the National Association of REALTORS® and are used
with its permission. Move, Move.com, Moving.com, Top
Producer®, TigerLead®, ListHub™,
Doorsteps® and SeniorHousingNet™ are trademarks of Move,
Inc. These and all other trademarks used in this work are the
property of their respective owners.
Media Contact: Lexie
Puckett, +1 805-557-3151, Lexie.Puckett@move.com
Forward-Looking Statements
This news 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