SOURCE: ZipRealty

ZipRealty

January 13, 2010 11:08 ET

The Number of "For Sale" Homes in December Drops by Nearly Five Percent, Reports ZipRealty

Nearly 28,000 Less Homes Were Listed for Sale Last Month Compared to November

EMERYVILLE, CA--(Marketwire - January 13, 2010) - The number of home listings within 27 major U.S. metropolitan areas dropped significantly in December by 4.8 percent, compared to a month prior, and is down 26.3 percent compared to December 2008, according to a monthly report of homes listed for sale on Multiple Listing Services (MLS) in the 27 markets surveyed by ZipRealty (www.ziprealty.com) (NASDAQ: ZIPR), a national real estate brokerage.

December also marked the eighteenth consecutive month-over-month decline in the total number of home listings in the 27 markets, according to the survey.

Other highlights from ZipRealty's December Housing Inventory Index include:

--  The combined number of MLS-listed single family homes and condos within
    all 27 major U.S. markets in December totaled 551,447, down from 579,413 in
    November.
--  December marked the largest month-over-month decline in home listings in
    2009.
--  Markets with significant month-over-month inventory declines include
    Boston (13.3%), the San Francisco Bay Area (12.1%), Denver (9.2%),
    Minneapolis-St. Paul (9%) and Seattle (7.9%).
--  Phoenix was one of only two markets where the number of homes listed for
    sale increased, at a modest 1.8 percent. In Sacramento, ZipRealty tracked a
    minor increase of .01 percent.
    

"Seasonality and the heavy activity by first-time homebuyers in October and November, who were rushing to take advantage of the tax credit, impacted housing inventory in December," said ZipRealty president and CEO Patrick Lashinsky.

Following is a snapshot of the housing inventory across all 27 metros that ZipRealty tracked in December 2009:


                                          Percentage         Percentage
                     Home Inventory        Change:            Change:
Market Name        (SFRs and Condos)  Month-over-Month     Year-over-Year
                   ------------------ ----------------- ------------------
Overall Market
 Total                        551,447              -4.8%             -26.3%
                   ------------------ ----------------- ------------------
Austin                          7,317              -6.7%             -17.6%
                   ------------------ ----------------- ------------------
Baltimore                       8,620              -5.4%             -10.3%
                   ------------------ ----------------- ------------------
Boston                         26,289              -4.6%             -13.3%
                   ------------------ ----------------- ------------------
Charlotte                      18,330              -4.2%              -5.9%
                   ------------------ ----------------- ------------------
Chicago                        60,509              -5.7%             -14.1%
                   ------------------ ----------------- ------------------
Dallas-Ft. Worth               32,141              -3.8%              -9.1%
                   ------------------ ----------------- ------------------
Denver                         14,925              -9.2%             -11.1%
                   ------------------ ----------------- ------------------
Houston                        26,038              -5.0%             -11.7%
                   ------------------ ----------------- ------------------
Jacksonville                   10,602              -2.2%             -12.8%
                   ------------------ ----------------- ------------------
Las Vegas                      11,391              -1.4%             -50.0%
                   ------------------ ----------------- ------------------
Los Angeles                    37,128              -2.1%             -50.6%
                   ------------------ ----------------- ------------------
Miami                          46,201                -3%             -37.3%
                   ------------------ ----------------- ------------------
Minneapolis-St.
 Paul                          18,123                -9%             -22.7%
                   ------------------ ----------------- ------------------
Norfolk/Virginia
 Beach                         10,679              -4.3%              -3.4%
                   ------------------ ----------------- ------------------
Orange County                   7,095              -5.3%             -37.3%
                   ------------------ ----------------- ------------------
Orlando                        21,056               -.5%             -33.9%
                   ------------------ ----------------- ------------------
Philadelphia                   30,561              -6.9%             -17.3%
                   ------------------ ----------------- ------------------
Phoenix                        32,139               1.4%             -38.6%
                   ------------------ ----------------- ------------------
Raleigh/Durham                 13,715              -3.8%              -9.1%
                   ------------------ ----------------- ------------------
Richmond                        8,042              -5.8%              -1.6%
                   ------------------ ----------------- ------------------
Salt Lake City                 14,791              -3.7%             -11.2%
                   ------------------ ----------------- ------------------
San Francisco Bay
 Area                          13,004             -12.1%             -51.7%
                   ------------------ ----------------- ------------------
Sacramento                     15,533                .1%             -20.4%
                   ------------------ ----------------- ------------------
Seattle                        26,358              -7.9%             -15.8%
                   ------------------ ----------------- ------------------
San Diego                       6,826              -5.1%             -52.1%
                   ------------------ ----------------- ------------------
Tucson                          5,506              -1.8%             -19.5%
                   ------------------ ----------------- ------------------
Washington, D.C.               28,528              -3.4%             -30.5%
                   ------------------ ----------------- ------------------


To view other local market housing conditions, visit ZipRealty's updated blog at: http://ziprealty.typepad.com/marketconditions/. To view all MLS-listed homes across all major metropolitan areas in which ZipRealty operates, visit www.ziprealty.com. For regular updates and housing trends, follow ZipRealty on Twitter at: http://twitter.com/ZipRealty.

About the ZipRealty Housing Inventory Index

ZipRealty pulls data from Multiple Listing Services in most of the major metropolitan areas where the real estate brokerage operates nationally. The data in this report is based on properties listed for sale according to the MLS in the metropolitan areas identified. For December 2009, ZipRealty reported data for 27 total metropolitan areas, which are defined by the brokerage and may differ slightly than standard DMAs. Due to changes to how homes are tracked by local MLSs, data for Bakersfield/Fresno, Calif., and Tampa, Fla., were omitted for December. The company pulls all data on, or about, the last day of the month for each of these markets.

About ZipRealty

ZipRealty is a full-service residential real estate brokerage firm. The Company utilizes its user-friendly Web site and employee real estate agents to provide home buyers and sellers with high-quality service and value. ZipRealty's Web site provides users with access to comprehensive local Multiple Listing Services' home listings data, as well as other relevant market and neighborhood information. The Company's proprietary business management system and technology platform help to reduce costs, allowing the Company to pass on significant savings to consumers. Founded in 1999, the company operates in 36 major markets in 22 states and the District of Columbia. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP.

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