The number of homes for sale nationwide was down 4.8 percent from November, according to data from ZipRealty Inc., which measured sales in the 27 major metropolitan areas where it does business.

The decline is typical, says research firm Zelman & Associations. Zelman says for the last 27 years nationwide listings have declined an average of 11 percent in December compared to November.

Zip’s figures don’t cover New York City where appraisal firm Miller Samuel Inc. says the number of co-ops and condos on the market in Manhattan in December was down 11 percent from November.

Source: The Wall Street Journal, James R. Hagerty (01/07/2010)