October 09, 2009 08:30 ET

Total Number of Home Listings Down Further in September According to ZipRealty

ZipRealty Reports Fifteenth Consecutive Month of Declining Housing Inventory Nationally

EMERYVILLE, CA--(Marketwire - October 9, 2009) - The U.S. housing market continues to show promising signs of stabilization according to a monthly survey of home listings conducted by the national real estate brokerage ZipRealty (www.ziprealty.com) (NASDAQ: ZIPR). September marks the fifteenth consecutive month-over-month decline in the number of home listings, based on Multiple Listing Service (MLS) data from 26 metropolitan areas where ZipRealty operates.

The combined total number of single family homes and condos listed for sale according to MLS data decreased in September by 1.8 percent compared to August, bringing the total number of active listings in 26 major U.S. markets to 642,308.

Other highlights from ZipRealty's September Housing Inventory Index (http://ziprealty.typepad.com/marketconditions/) include:

--  While most markets saw inventory decline, Baltimore added 1.5 percent
    more properties in September compared to August, and Boston increased by
    2.2 percent.
--  Markets with significant month-over-month inventory declines include
    Austin (4.7 percent), Los Angeles (4.7 percent), Las Vegas, (4.4 percent)
    and Orange County (4 percent). Los Angeles continues to show signs of
    stabilization with falling inventory and rising list prices.
--  Phoenix showed little to no movement in September inventory in
    addition to flat listing prices.
--  Inventory in Las Vegas continues to decline but the median list price
    remained unchanged for the sixth consecutive month, indicating that the
    market may take longer to rebound.

Following is a snapshot of the housing inventory across all 26 metros that ZipRealty tracked in September 2009:

                       (SFRs and   Percentage Change:   Percentage Change:
Market Name             Condos)     Month-over-Month      Year-over-Year
-----------            ---------   ------------------   ------------------
Overall Market Total    642,308          -1.8%                -27.1%
Austin                    8,389          -4.7%                -19.2%
Baltimore                 9,625           1.5%                 -9.6%
Boston                   34,378           2.2%                 -6.5%
Charlotte                19,871            .2%                 -8.7%
Chicago                  70,309          -2.3%                -15.4%
Dallas-Ft. Worth         35,350          -2.4%                 -9.1%
Denver                   17,889          -1.5%                -10.2%
Houston                  28,283            -2%                -16.9%
Jacksonville             11,061          .1.1%                -14.9%
Las Vegas                12,103          -4.4%                -46.8%
Los Angeles              37,955          -4.7%                -56.5%
Miami                    49,181          -3.5%                -38.5%
Minneapolis-St. Paul     22,365          -2.6%                -21.4%
Norfolk/Virginia Beach   11,657          -1.7%                 -4.2%
Orlando                  21,485          -3.3%                -35.3%
Philadelphia             35,155           -.3%                 -8.5%
Phoenix                  29,524           -.1%                -42.3%
Raleigh/Durham           14,858          -1.8%                -11.1%
Richmond                  8,950           -.2%                 -4.7%
Salt Lake City           16,161          -3.4%                  -14%
San Francisco Bay Area   16,911          -1.5%                -48.9%
Sacramento               15,437           1.3%                -32.4%
Seattle                  31,534          -1.8%                -19.2%
Tampa                    38,447          -1.7%                -26.8%
Tucson                    5,359           -.6%                -23.7%
Washington, D.C.         32,298          -1.4%                -32.9%

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 that ZipRealty operates in, visit www.ziprealty.com. For regular updates and housing trends, follow ZipRealty on Twitter at: @ZipRealty (http://twitter.com/ziprealty).

About the ZipRealty Housing Inventory Index

ZipRealty pulls data from Multiple Listing Services in 28 of the major metropolitan areas where the real estate brokerage operates in nationally. The data in this report is based on properties listed for sale according to the MLS in the metropolitan areas identified. In September 2009, ZipRealty reported data for 26 metros. Due to changes to how homes are tracked by the California MLSs, data from San Diego and Bakersfield/Fresno, Calif. was omitted for September. The company pulls all data on or about the last day of the month for each of these markets. Additionally, the metropolitan areas ZipRealty cites as part of its monthly report are defined by the brokerage, and may differ slightly than standard DMAs.

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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