The Number of

More Than 15,000 Additional Homes Were Listed for Sale in January Within 27 Major U.S. Housing Markets

Dennis Norman

January marked the first time in 18 months that more homes were listed “for sale” compared to the previous month, with an additional 15,000 homes, or a 2.9 percent increase, listed for sale compared to December according to the January Housing Inventory Index, a survey of Multiple Listing Service (MLS) listed homes in 27 major U.S. housing markets conducted by ZipRealty.

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

• The number of home listings year-over-year remains down 22.3 percent, with 163,000 fewer homes on the market.
• The combined number of MLS-listed single family homes and condos within the 27 major U.S. markets surveyed in January totaled 567,265, up from 551,447 in December.
• Markets in California showed significant jumps in inventory in January with month-over-month increases of 10.1 percent in the San Francisco Bay Area, 8 percent in Orange County, 4.5 percent in Los Angeles, and 6.5 percent in San Diego.
• Baltimore was one of only two markets where the number of homes listed for sale decreased, at a modest 1.9 percent. In Miami there was a minor decrease of .05 percent.
• The average median list price of $258,634 was relatively flat in January, down 1 percent (or $2,521).

“Serious sellers need to list their home now, rather than wait for the spring, to capitalize on buyers looking to take advantage of the tax credit extension,” said ZipRealty President and CEO Patrick Lashinsky. “While the number of homes for sale is starting to increase, we are still seeing some markets with a shortage of homes for sale.”

Following is a snapshot of the housing inventory across the 27 metros that ZipRealty tracked in January 2010:

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