January 23, 2010

Fewer Homes on the Market in December

Fewer Homes on the Market in December

According to a report issued by ZipRealty there were 17,741 fewer homes listed for sale in December with reduced prices which represents a decline of 7.1 percent compared to November. This data is from a monthly survey of Multiple Listing Services (MLS) in 27 major U.S. markets conducted by the national online real estate brokerage ZipRealty.

The brokerage reports that the average list price across all 27 markets surveyed declined by more than 4 percent, and the average price per reduction declined by 2 percent, indicating that sellers may have priced their homes more in line with market conditions.

Other highlights of the monthly survey included:

  • Home sellers on average reduced their original list prices approximately $23,459 in December, a more than 2 percent smaller discount compared to November
  • More than 42 percent of home listings had at least one price reduction, a drop of 1 percent compared to November
  • December was the fourth consecutive month of a drop in the total number of price reduced homes available for sale

Any thoughts on this latest housing survery? Leave us your comment below.

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