November 19 2013
SAN JOSE, Calif., Nov. 19, 2013 -- Realtor.com®, the leader in online real estate operated by Move, Inc. (NASDAQ: MOVE), today released the realtor.com® National Housing Trend Report for October 2013. National housing data shows that the U.S. housing market is in a completely different position than this time last year, with solid price increases, steady inventory and strong demand continuing well into the fall season.
Realtor.com®'s data reveals that October 2013 median list prices were relatively unaffected by the usual seasonal patterns with a strong 7.57 percent increase year over year. National inventory is stabilizing after the dramatic declines seen earlier this year, although the country still is experiencing significant supply shortages. Most notably, median age of inventory – a leading indicator of demand – is down 11.32 percent year over year, demonstrating resilience to seasonal changes and stabilized inventory.
"Instead of the usual seasonal slowdown, October data show the 2013 fall market moving at a fast pace," said Errol Samuelson, president of realtor.com®. "Inventory has returned to last year's levels, but prices continue to strengthen and homes are moving significantly faster compared to this time last year."
"This demonstrates that the overall strength of the national housing market is determined partly by inventory availability," said National Association of Realtors® Chief Economist Lawrence Yun. "We expect rising home price conditions to continue through the balance of the year."
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. National data in October reflects an adjustment in inventory of approximately 1 percent compared to previous months, reflecting an update in four southern California markets identified by realtor.com's® enhanced auditing protocols and attributed to a system change in data collection earlier in the year. We regularly review and update historical data 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®.
About realtor.com®
Operated by Move, Inc., 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.
About MOVE, INC.
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.