This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Realtor.com May Real Estate Health Report Shows Regional Markets Leading Recovery As Supply Begins To Respond To Demand

SAN JOSE, Calif., June 13, 2013 /PRNewswire/ -- Realtor.com, the leader in online real estate operated by Move, Inc. (NASDAQ: MOVE), released its Real Estate Health Report for the month of May 2013 today. National housing indicators are being led by strong regional markets experiencing key growth, as seller supply begins to respond to consumer demand mirroring on a micro scale, indicating a slower but steady national trend towards sustainable market recovery.

As the spring homebuying season transitions into summer, some regions across the nation are seeing month-over-month inventories replenishing above usual seasonal patterns as sellers begin to respond to pent up demand. Many previously "hot" regional markets such as Sacramento and Stockton in California are in the process of balancing out, as surges in month-over-month listings begin to replenish depleted inventories. 

"We are seeing large regional markets across the country leading the way to national recovery. These regions are acting as a microcosm for what's slowly happening in the larger real estate market," said Steve Berkowitz, chief executive officer of Move. "Overall, we're seeing seller confidence beginning to respond to consumer demand. Nationally, there are more homes going on the market for a shorter amount of time.  And this is happening in our hot markets on a much larger scale."

In the U.S., May 2013 inventories rose by 5.82 percent over April 2013 and median list prices were 2.10 percent higher than April prices.  Last year, realtor.com reported a 1.77 percent increase in inventory from April 2012 to May 2012 and a 0.48 percent increase in median list prices over April 2012. The May 2013 month-over-month increase in inventory signals the beginning of a less volatile market and a greater balance between supply and demand. In fact, this surge in inventory has spread to some East Coast markets including Daytona Beach, FL and Washington, D.C., whose inventories rose 21.97 percent and 12.64 percent respectively, month-over-month. 

National Data:

  • In May, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,852,740) increased by 5.82 percent month-over-month. On an annual basis, May 2013 inventory decreased by 10.11 percent; compared to a 14.10 percent year-over-year decrease in May 2012. 
  • The median list price ( $199,000 for May 2013) rose by 2.10 percent over the month, and by 4.79 percent year-over-year. 
  • The median age of inventory of for sale listings (79) fell by approximately 13 percent in comparison to May of last year. 

Local Data:

  • May 2013 month-over-month inventories sprang up in some regions including: Stockton- Lodi, CA (37.06 percent increase); Sacramento, CA (35.18 percent increase); Daytona Beach, FL (21.97 percent increase); San Jose, CA (17.27 percent); Orange County, CA (16.50 percent); Anchorage, AK (16.06 percent); San Francisco, CA (14.87 percent); Oakland, CA (14.35 percent); Washington, DC-MD-VA-WV(VA) (12.64 percent) and Los Angeles-Long Beach, CA (11.29 percent). 
  • California markets continue to lead the list of the country's top performing housing markets in median list price increases, along with Phoenix, AZ; Detroit, MI; Reno, NV; Jacksonville, FL and Orlando, FL.      
  • The coastal areas of the Carolinas and Philadelphia, PA, continue to be on the list of the 10 areas with the longest time on market. However, Florida markets now account for half of these markets, with a median time on market that ranged from 105 to 119 days.

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, where 90 percent of listings are 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.

Supporting Resources

ABOUT realtor.com ®

Operated by Move, Inc., (NASDAQ: MOVE), realtor.com ® helps connect people with the content, tools and expertise they need to find their perfect home. As the official website of the National Association of REALTORS ®, realtor.com ® empowers consumers to make the smartest decisions when it comes to finding a home by leveraging direct connections with more than 800 MLSs to deliver the most accurate and up-to-date listing information in neighborhoods across the country, and by making timely and meaningful connections between consumers and REALTORS ®. Whether through desktop, mobile, or tablet versions, realtor.com ® is where home happens.

ABOUT MOVE, INC.

Move, Inc. (NASDAQ:MOVE), the leader in online real estate, operates:  realtor.com®, the official website of the National Association of REALTORS®; Move.com, a leading destination for new homes and rental listings, moving, home and garden, and home finance; ListHubâ„¢, the leading syndicator of real estate listings; Moving.comâ„¢; SeniorHousingNet; SocialBios; Doorsteps, TigerLead®; and TOP PRODUCER® Systems.  Move, Inc. is based in San Jose, California.

SOURCE Move, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs