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.