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April Realtor.com® Report Shows Housing Recovery Accelerating, As List Price And Inventory Increase

In the news release, April realtor.com® Report Shows Housing Recovery Accelerating, as List Price and Inventory Increase, issued 14-May-2013 by Move, Inc. over PR Newswire, we are advised by the company that the first paragraph, second sentence, should read "4.12" rather than "3.12;" the fifth paragraph, first bullet, should read "4.12" rather than "3.12," as originally issued inadvertently. The complete, corrected release follows:

April realtor.com® Report Shows Housing Recovery Accelerating, as List Price and Inventory Increase

Realtor.com® April data indicates confidence in the housing market recovery as homes continue to enter the market at rapid speeds month over the month

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 4.12 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 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.

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