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| Lanny Baker |
EMERYVILLE, CA, April 15, 2013 – ZipRealty, Inc. (http://www.ziprealty.com)
(NASDAQ: ZIPR), the leading online residential real estate brokerage and
technology provider, has released its first Housing Trends Report, according to
CEO and President Lanny Baker.
The twice-monthly report provides a comprehensive analysis
of 24 major real estate markets served by ZipRealty. As the firm continues to
expand in other areas through its Powered by Zip network, additional
metropolitan areas will be added to the report, says Mr. Baker. Fresh, new data
will be added to the report in the middle and at the end of each month.
According to the debut edition of the ZipRealty Housing
Trends Report, median home prices in the cities examined increased 14.6% to
$242,519 on a year-over-year basis, with the highest gains in San Francisco,
where home prices shot up 38% as of March 15, 2013.
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| Golden Gate Bridge, San Francisco, CA |
Real estate prices in both
Las Vegas and Phoenix jumped 31% during the same period.
Total housing inventory in the 24 metropolitan areas
declined 34% as of March 15, 2013, as did the level of distressed home sales.
The report shows 35% of the homes sold in the 2012 period were either
foreclosures, short sales or REOs, compared to only 23% of the homes in 2013, a
decline of 12 percentage points in the prevalence of distressed property sales.
For a complete copy
of the company’s news release, please contact:
Stacey Corso
Public Relations Manager
ZipRealty, Inc.
Office: 510.735.2667
Cell: 415.672.6460
Follow us on Twitter: @ZipRealty
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