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| Lanny Baker |
EMERYVILLE, CA, April 21, 2014 – For the first time in more
than 12 months, median home sales price growth has fallen into the single
digits, growing 8.9% on a year-over-year basis as of March 31, according to a
new report issued by ZipRealty, Inc (http://www.ziprealty.com) (NASDAQ: ZIPR), a leading online
residential real estate brokerage and provider of technology and marketing
solutions.
The year-over-year increase observed for March 2014 was
three percentage points lower than the 11.7% gain seen in February 2014.
Among the metros surveyed by ZipRealty, median price growth
leaders on a year-over-year basis at the end of the first quarter were:
· Sacramento
– 21% increase
· Las Vegas –
21% increase
· The SF Bay
Area – 16% increase
· Chicago –
15% increase
· Los Angeles
– 15% increase
· Nashville
–13% increase
“While overall housing inventory in the metros analyzed by
ZipRealty was one percent lower at March 31, 2014 than at the same point in 2013,
several markets have begun to show surprisingly large and encouraging increases
in inventory.
“An increase in for sale homes should be good news for the
many interested home buyers whose plans have been impeded by inventory
shortages over the past few months,” said ZipRealty CEO Lanny Baker.
According to the new report, the metros with the biggest
increases in for sale housing inventory as of March 31 include:
· Phoenix –
49% increase
· Sacramento
– 46% increase
· San Diego –
38% increase
· Las Vegas –
34% increase
· Orange
County – 25% increase
The amount of time homes are spending on the market has
remained stable over the past month. The fastest-moving markets as of March 31
were Austin, Boston, Houston, Dallas and Long Island. Meanwhile, the
slowest-moving housing markets during that same time period based on days on
market included Las Vegas, Sacramento, Orange County and Denver.
For a complete
copy of the company’s news release, please contact:
Stacey Corso
510.735.2667
scorso@ziprealty.com
www.ziprealty.com
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