Home Sales Price Growth Starting to Trend Upward, According to New Report

Emeryville, Calif., – In the housing markets covered by ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), a leading online residential real estate brokerage and provider of technology and marketing solutions, there were some signs of improvement at the end of January after a soft start to 2014. According to the new Housing Trends Report, Median sales price growth increased more than an entire percentage point to 12.5% during the month of January year-over-year in the 24 metros covered by ZipRealty. In December 2013, annual median home sales price growth was 11.4%.

The West led the nation in median home sales price growth for most of 2013, and continued to outperform other metros surveyed by ZipRealty on an annual basis heading into 2014. The leaders were:

1)     Sacramento, where prices increased 28%.

2)     Las Vegas, where prices jumped 24%.

3)     Los Angeles, where prices increased 23%.

4)     The SF Bay Area, which grew 21%.

5)     Orange County, where prices jumped 17%.

Housing inventory in the metros studied by ZipRealty remained in negative territory year-over-year at (7%) as of the end of January. The metros with the biggest annual inventory shortages include:

1)     Chicago (25%)

2)     Houston (23%)

3)     Boston (21%)

4)     Dallas (21%)

5)     Austin and Long Island were both down at (17%).

“While median days on market for all homes in the ZipRealty report declined on an annual basis, the amount of time homes are staying on the market appears to be trending back upward,” added Mr. Baker. The median days on market for homes included in the study as of January 31, 2014 was 46, compared to 49 during the same time period in 2013, a 6% decrease.

About ZipRealty, Inc.
ZipRealty is a leading national real estate brokerage and provider of proprietary technology and comprehensive online marketing tools for the residential real estate brokerage industry. For home buyers and sellers who increasingly want control, choice and a seamless, customized service, ZipRealty offers Internet-enabled, state-of-the-art technology and complete access to accurate, timely information via their website and mobile applications, which real estate professionals can combine with their own local knowledge and personal expertise to offer an exceptional start-to-finish client experience. For real estate professionals who seek more productive ways to conduct business, ZipRealty provides technology and online marketing tools to enhance their online sales channel, including lead generation, conversion and service of their clients. ZipRealty’s technology and online marketing products serve its full-service, owned-and-operated residential real estate brokerage business in 19 markets nationwide, as well as its Powered by Zip network of leading third-party local brokerages in 20 markets.

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