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Number of Home Listings Declines More Than Five Percent in December 2010, According to ZipRealty Survey

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RISMEDIA, January 10, 2011—The number of home listings within 26 major U.S. metropolitan areas slipped 5.27% in December 2010, compared to a month prior, according to a monthly report of homes listed for sale on Multiple Listing Services (MLS) in the markets surveyed by national real estate brokerage, ZipRealty.

Inventory grew at a steady pace year-over-year for the first eight months of 2010, and December was up 11.2% compared to a year ago, based on combined Multiple Listing Service (MLS) data from these 26 areas surveyed by ZipRealty. Las Vegas, San Francisco Bay Area and San Diego saw more than 50% growth from the same time last year.

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

-The combined number of MLS-listed single-family homes and condos within all 26 major U.S. markets in December totaled 595,922, down from 629,086 in November.

-All but one survey market experienced declines in inventory in December as compared to November. Markets that experienced sharp decreases included Boston (14.4% inventory decline), San Francisco Bay Area (12.8% inventory decline) and Washington DC (8.5% inventory decline).

-Overall market inventory for the 26 areas surveyed peaked in September 2010 with 675,872 homes listed for sale.

-The Las Vegas market was hit severely by foreclosures in December and total inventory was 17,090, up from 11,391 in December 2009.

For more information, visit www.ziprealty.com.

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