In January, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. decreased by 16.47 percent from one year ago, dropping to its lowest point since January 2007, when Realtor.com® began collecting this data. The significant year-over-year decline in homes for sale shows that the real estate market has worked through much of its excess inventory and, if these conditions continue, sellers are more likely to receive their asking price. While the median list price is essentially the same as it was one year ago, the average amount of time a home spent on the market decreased 9.24 percent on a year-over-year basis.

-- The national for-sale inventory for single family homes, condos,
townhomes and co-ops (SFH/CTHCOPS) (1,477,266) continued to decline in
January, falling by 5.63 percent during the month and by 16.47 percent
on an annual basis.
-- The national median list price for SFH/CTHCOPS ($187,000) increased .80
percent in January and is now slightly higher than it was one year ago.
-- The median age of inventory of for-sale listings was 108 days in
January, down 2.70 percent from December and 9.24 percent below the
median age one year ago (January 2012).
Local Data

Regional January data suggests that at a local level, trends for both growth and decline observed in 2012 are continuing into 2013. States that were once at the center of the housing crisis, including Arizona, California and Washington, are continuing on upward trajectories. In several markets, particularly in California, home sellers are seeing a dramatic advantage when putting their homes on the market with some of the best prices in recent years. Alternatively, markets in the older industrialized parts of the Midwest and the East will likely continue to struggle without a significant turnaround in their local economies.

-- Realtor.com®'s 2013 Best Sellers Markets are Sacramento, CA; San Jose,
CA; San Francisco, CA; Phoenix, AZ; and Washington, DC.
-- Realtor.com®'s Top Buyers Markets are Asheville, NC; Peoria, IL;
Charleston, WV; Philadelphia, PA; and Cleveland, OH.
A number of factors will contribute to the continuation of a housing recovery this year, including the strength of the economy, the cost and availability of mortgage credit, consumer expectations regarding future housing prices and the success of efforts to reduce the number of foreclosures.

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.