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 D.C., Houston, Las Vegas, Los Angeles, Miami, Minneapolis, Orlando, Phoenix, Sacramento, San Diego, Seattle, Tampa and the San Francisco Bay Area. The current index was taken as of 6/1/2007.
| ZipRealty Price Reduction Index | % Homes Reduced as of 5/1/07 | % Homes Reduced as of 6/1/07 | % Change |
|---|---|---|---|
| Baltimore | 35.5% | 39.2% | 10.4% |
| Boston | 40.1% | 42.4% | 5.7% |
| Chicago | 32.9% | 35.4% | 7.6% |
| Dallas | 28.6% | 30.4% | 6.3% |
| Houston | 31.4% | 33.0% | 5.1% |
| Las Vegas | 38.0% | 39.5% | 3.9% |
| Los Angeles | 35.5% | 37.8% | 6.5% |
| Miami | 34.0% | 32.0% | -5.9% |
| Minneapolis | 33.1% | 36.1% | 9.1% |
| Orange County | 39.6% | 42.6% | 7.6% |
| Orlando | 41.3% | 42.7% | 3.4% |
| Phoenix | 41.8% | 43.7% | 4.5% |
| S.F. Bay Area | 31.1% | 34.3% | 10.3% |
| Sacramento | 42.4% | 45.7% | 7.8% |
| Seattle | 29.1% | 31.9% | 9.6% |
| San Diego | 35.9% | 37.7% | 5.0% |
| Tampa | 40.0% | 41.2% | 3.0% |
| Washington D.C. | 35.8% | 39.8% | 11.2% |
