ZipRealty Price Reduction Index, May 2007

The ZipRealty Price Reduction Index (ZPRI) is an informal indicator of for sale home price reduction trends in cities 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 city, we are able to determine the percentage of homes with price reductions for this city.

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. Currently, our index covers 70 cities in 19 regional markets, including: Atlanta, Austin, Baltimore, Boston, Chicago, Dallas, Washington DC, Houston, Las Vegas, Los Angeles, Minneapolis, Miami, Orlando, Phoenix, Sacramento, San Diego, Seattle, Tampa and the San Francisco Bay Area. The current index was taken as of 5/1/2007.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

ZipRealty Price Reduction Index	% Homes Reduced as of  04/02/07	% Homes Reduced as of  05/01/07	% Change
Baltimore	32.9%	35.5%	7.9%
Boston	39.2%	40.1%	2.3%
Chicago	28.6%	32.9%	15.0%
Dallas	26.3%	28.6%	8.7%
Houston	29.4%	31.4%	6.8%
Las Vegas	34.4%	38.0%	10.5%
Los Angeles	31.9%	35.5%	11.3%
Miami	36.7%	34.0%	-7.4%
Minneapolis	27.9%	33.1%	18.6%
Orange County	34.7%	39.6%	14.1%
Orlando	36.9%	41.3%	11.9%
Phoenix	38.0%	41.8%	10.0%
SF Bay Area	27.7%	31.1%	12.3%
Sacramento	38.6%	42.4%	9.8%
Seattle	27.2%	29.1%	7.0%
San Diego	31.5%	35.9%	14.0%
Tampa	36.2%	40.0%	10.5%
Washington DC	33.0%	35.8%	8.5%