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Realtor.com® National Housing Trend Report Shows Market Recovery Continuing At Healthy Pace

SAN JOSE, Calif., July 16, 2013 /PRNewswire/ --  Realtor.com®, the leader in online real estate operated by Move, Inc. (NASDAQ: MOVE), today released the realtor.com® National Housing Trend Report for the month of June 2013. The report revealed both year-over-year median list prices and month-over-month inventories rose significantly in key California markets (with increases of over 20 percent and over 40 percent respectively). In June, the national increase in median list price remained 5.27 percent higher than a year ago.  National median age of inventory increased by just one day (at 80 days) in June, compared to 79 days in May 2013.

"Inventories on realtor.com reached their highest level in June since the beginning of 2013. We're seeing increases as high as 51 percent month-over-month in many southern California markets," said Steve Berkowitz, chief executive officer of Move. "Sellers are continuing to list homes at a steady pace into late June, which moves us past the traditional home buying season, as mortgage interest rates continue to rise. These are all signs that the market recovery is continuing at a healthy pace."

Nationally, June 2013 inventories rose by 4.26 percent over May 2013 and median list prices were just 0.45 percent higher than May prices.  Despite six consecutive months of steady month-over-month growth, inventories continue to be down by 7.29 percent on a year-over-year basis.

National Data:

  • In June, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,931,713) increased by 4.26 percent month-over-month. On an annual basis, June 2013 inventory decreased by 7.29 percent.
  • The median list price ( $199,900 for June 2013) rose by 0.45 percent over the month, and by 5.27 percent year-over-year. 
  • The median age of inventory of for sale listings (80 days) has decreased by approximately 15.79 percent in comparison to June of last year, but is up 1.27 percent month-over-month.

Local Data:

  • June 2013 month-over-month inventories sprang up in many regions in California, including: Orange County (51.54 percent); Los Angeles-Long Beach (45.69 percent); Riverside- San Bernardino (44.72 percent); Ventura (43.53 percent); San Diego (18.14 percent); Bakersfield (12.47 percent) and Oakland (12.14 percent).
  • June 2013 month-over-month inventories also increased in: Dayton- Springfield, Ohio (14.06 percent); Santa Fe, N.M. (13.82 percent) and Anchorage, Alaska (13.77 percent).
  • Reno, Nev. tops the list for month-over-month median list price increases – up 5.53 percent. Three California markets made the top ten in median list price increases, along with Chicago, Detroit, Portland, Ore., Naples, Fla., Las Vegas and Jersey City, N.J.
  • The largest year-over-year decreases in median age of inventory were reported in Seattle- Bellevue- Everett, Wash. (-47.37 percent); Denver, Colo. (-47.06 percent); Oakland (-45.16 percent); Salt Lake City- Ogden, Utah (-34.72 percent) and Reno (-34.41 percent).

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; ListHub™, the leading syndicator of real estate listings; Moving.com™; SeniorHousingNet; SocialBios; Doorsteps, TigerLead®; and TOP PRODUCER® Systems.  Move, Inc. is based in San Jose, California.

Forward-Looking Statements

This press release may contain forward-looking statements, including information about management's view of Move's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move's future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.

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