ZipRealty Price Reduction Index, February 2007
The ZipRealty Price Reduction Index (ZPRI) is an informal indicator of ‘for sale’ home price reduction trends in DMAs (designated market areas) across the country. By looking at the number of homes with price reductions and dividing this figure by the total number of homes available for sale in a given DMA, we are able to determine the percentage of homes with price reductions for the given area.
Please keep in mind that this is just one indicator of many that can be used in determining the health of a local real estate market.
| ZipRealty Price Reduction Index | % Homes Reduced - Jan-07 | % Homes Reduced - Feb-07 | Variance |
|---|---|---|---|
| Baltimore | 39.0% | 35.9% | -7.9% |
| Boston | 44.9% | 42.0% | -6.5% |
| Chicago | 31.8% | 29.5% | -7.2% |
| Dallas | 28.1% | 27.1% | -3.6% |
| Houston | 29.9% | 23.0% | -23.1% |
| Las Vegas | 36.2% | 34.1% | -5.8% |
| Los Angeles | 36.0% | 33.2% | -7.8% |
| Miami | 34.2% | 35.1% | 2.6% |
| Minneapolis | 32.2% | 29.0% | -9.9% |
| Orange County | 39.4% | 35.6% | -9.6% |
| Orlando | 35.8% | 35.7% | -0.3% |
| Phoenix | 38.3% | 37.1% | -3.1% |
| SF Bay Area | 31.9% | 28.5% | -10.7% |
| Sacramento | 42.5% | 39.9% | -6.1% |
| Seattle | 29.5% | 27.5% | -6.8% |
| San Diego | 37.2% | 33.5% | -9.9% |
| Tampa | 34.4% | 34.7% | 0.9% |
| Washington DC | 39.7% | 36.3% | -8.6% |
This index covers 19 regional markets, served by ZipRealty. The current index was taken as of 2/1/2007.
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