SAN JOSE, Calif., May 14, 2013 /PRNewswire/
-- Realtor.com®, the leader in online real estate
operated by Move, Inc. (NASDAQ: MOVE), released its April data
showing that the U.S. housing market is on its way to a broad-based
recovery, an accelerated trend since March. The home buying season
shifted into high gear last month as inventory and home list prices
on realtor.com® increased by 3.12 percent and 2.63
percent, month over month, respectively. As of April, homes are on
the market nationwide approximately 81 days—a decrease of nearly 11
percent since April 2012—highlighting that while new homes are
entering the market they are not available for long.
"Due to increased demand for homes and more confidence in the
job market – we are beginning to see more and more buyers entering
the housing market," said Steve
Berkowitz, chief executive officer of Move. "Home buying
season is off to a strong start, as buyers are capitalize on
moderate housing prices and snatch up homes quickly. In some
markets, we are seeing homes staying on the market for only a few
weeks."
Despite the increase in inventory month over month, nationwide
inventory declined year over year in all but 11 of the 146 markets
realtor.com® monitors. Approximately 36 markets
registered a decrease of listings by 20 percent or more, still
highlighting near records lows of available homes.
Approximately 37 markets experienced a decline in list price
since last year, a figure that has been improving throughout the
home buying season. The number of markets throughout the nation
experiencing a steady or slight decline in median list prices is
decreasing throughout the home buying season, another positive
signal for the overall housing market recovery. In April, median
list prices increased in 109 markets.
National Data
- In April, the total number of single-family homes, condos,
townhomes and co-ops for sale in the U.S. (1,750,839) increased by
3.12 percent month-over-month. On an annual basis, however,
inventory decreased by 13.54 percent.
- The national median list price for single-family homes, condos,
townhomes and co-ops ($194,900)
increased by 2.63 percent vs. March, and 3.12 percent since April
last year.
- The median age of inventory of for sale listings (81) fell by
nearly 11 percent in comparison to April last year.
Local Data
- Only seven markets throughout the nation experienced a one
percent or greater year on year increase in housing inventory since
April 2012. The Shreveport-Bossier
City, LA market lead the pack with an increase of inventory
of 19.16 percent since April last year. Springfield, IL; Huntsville, AL; Ocala, FL; El Paso,
TX; Albuquerque, NM and
Little Rock-North Little Rock, AR markets followed,
respectively.
- California continues to
dominate the top 10 list of markets with the largest increase in
median list price throughout the nation—only two regions in the
list fall outside of California.
These markets were hit the strongest by the housing crisis and are
showing a great rebound as the housing recovery picks up steam.
Oakland experienced the largest
year over year increase in list price at 46.94 percent. The
Santa Barbara-Santa Maria-Lompoc,
CA market followed at 44.81 percent. Sacramento, CA; San
Jose, CA; Los Angeles-Long Beach,
CA; Orange County, CA;
Detroit, MI; Ventura, CA; Fresno,
CA; and Phoenix-Mesa,
AZ rounded out the top markets with the largest increases in
list prices in the nation.
- Oakland continues to lead the
nation with the shortest median age of inventory (15 days).
San Jose, CA; San Francisco, CA; Denver, CO; Seattle-Bellevue-Everett,
WA; Anchorage, AK;
Washington, DC-MD, VA-WV (DC);
Orange County, CA; Sacramento CA; and Washington, DC-MD-VA-WV (VA) follow,
respectively. Homes in these areas stayed on the market an average
32 days, down 40 percent compared to 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, with the
majority of listings 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.
Realtor.com recently upgraded its database, for more information
please visit: