February 23 2014
SAN JOSE, Calif., Feb. 20, 2014 -- Realtor.com®, the leader in online real estate operated by Move, Inc. (NASDAQ: MOVE), today released its National Housing Trend Report for January 2014. The 2014 home buying season has begun on one positive note, despite severe weather conditions across much of the country, showing an uptick in inventory a month earlier than the 2013 home buying season.
Data from realtor.com® reveals the median list price for January 2014 is 8.3 percent above levels observed in January 2013. The number of properties for sale is up 3.1 percent and the median age of inventory is essentially unchanged, indicating a transition to a less frenzied market compared to January 2013.
"January's start compared to year-ago levels is an encouraging sign of sellers' interest, particularly given the adverse conditions brought on by the polar vortex," said Errol Samuelson, president of realtor.com®. "We saw the tight-supply market of last fall carry all the way into November – later than is typically expected – and this early rise in inventory is a welcome trend. The sustained median list price growth supports the gains we saw last year, and sellers are responding with confidence in that consistency. We will continue to watch inventory movement in the coming months as we move further into typical seasonal patterns, but anticipate a more balanced buying market."
The national median existing home price is projected to rise about 5 to 6 percent in 2014, according to the National Association of REALTORS®, which cites job growth and large pent-up demand as drivers of the market in light of rising mortgage rates.
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 MLSs. We regularly review and update historical data in order to provide the most accurate and comprehensive market information available. For more information on Move, please visit www.move.com or one of its many online real estate properties including 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.
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® Top Producer® Systems and FiveStreet. Move, Inc. is based in San Jose, California.