EMERYVILLE, CA, Aug. 27, 2013 – ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR),
the most prominent online technology powered residential real estate brokerage
firm and real estate marketing solutions provider, has released the latest
edition of its Housing Trends Report, which shows some initial signs of
stability in the residential market, based on MLS data analyzed by ZipRealty.
 |
| Van Davis |
“The trajectory of the real estate market as evidenced in
the latest edition of ZipRealty’s Housing Trends Report is one of moderation
with underlying strength,” according to Van Davis, ZipRealty’s President
of Brokerage Operations.
“Home listings, median days on market and pending sales all
remained relatively unchanged over the past six weeks. Additionally, the increase
in median home prices moderated from 16.8% year-over-year in our last report to
a still-strong 15.8%,” he adds.
“Home listings remained 12% above 2012 levels as of July 31,
2013 at 170,492 in the markets we serve.
“As we noted in the last Housing Trends Report, several
metros on the West Coast, which have had the greatest supply imbalances, are
now seeing the biggest increases in listings.
“Listings grew 34% in Denver, 25% in Washington, DC/Northern
Virginia, 24% in Portland, 22% in Orange County, and 21% in both Seattle and
San Diego,” Mr. Davis says.
The volume of new home listings advanced the most in the
following markets on a year-over-year basis as of July 31, 2013:
1) Denver, 34%
2) Washington,
DC/Northern Virginia, 25%
3) Portland, 24%
4) Orange County,
22%
5) Baltimore, 22%
“Even though it marks a 33% decline annually, median days on
market in our 24 metros remained unchanged at 27 days from July 15 to July 31,
2013.
"Pending sales shrank to 97,797 as of July 31, 2013, compared to 100,402
on July 15, 2013, providing additional evidence of moderation. Pending sales
increased 17% YOY at the end of July 2013, whereas they jumped 24% YOY in
mid-July 2013,” Mr. Davis notes.
“This 7% drop is likely the result of rapid appreciation
over the past 12 months coupled with mortgage rates increasing this summer.
“The home price of $278,987 on July 31, 2013, marks a 15.8%
YOY increase, but shows a slight decline from the period ending July 15, 2013
when the sales price was $282,034.
Leading metros in terms of price growth include Sacramento,
the Bay Area, Las Vegas, Los Angeles and Phoenix,” concludes Mr. Davis.
“Overall, the increase in listings coupled with moderating
price growth and sales volumes provide significant evidence that the real
estate market is beginning to become more balanced.”
For a complete copy of the company’s news release, please
contact:
Stacey Corso
510.735.2667
No comments:
Post a Comment