Asking home prices rose nationally 8.3% year-over-year. Nine of the 10 markets with the biggest price gains also had job growth above the national average.
The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do. With that, here’s the scoop on where prices and rents are headed.
Prices Up 8.3% Year-over-Year, Rising in 95 of 100 Largest Metros
In April, asking home prices rose 1.3% month-over-month, seasonally adjusted. Quarter-over-quarter, prices are up 4.3%, seasonally adjusted. Year-over-year, prices are up 8.3% nationally and are higher than one year ago in 95 of the 100 largest metros.
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April 2013 Trulia Price Monitor Summary |
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% change in asking prices |
# of 100 largest metros with asking-price increases |
% change in asking prices, excluding foreclosures |
|
| Month-over-month, seasonally adjusted |
1.3% |
Not reported |
1.7% |
| Quarter-over-quarter, seasonally adjusted |
4.3% |
96 |
4.6% |
| Year-over-year |
8.3% |
95 |
9.3% |
Rents rose just 0.1% year-over-year on single-family homes and 2.9% on apartments. Locally, rents on single-family homes are flat or falling in Las Vegas, Phoenix, and Atlanta
The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do. With that, here’s the scoop on where prices and rents are headed.
Prices Up 7.2% Year-over-Year, Rising in 91 of 100 Largest Metros
In March, asking home prices rose 1.1% month-over-month, seasonally adjusted. That’s an annualized growth rate of 14%. Quarter-over-quarter, prices are up 3.5%, seasonally adjusted. Year-over-year, prices are up 7.2% nationally and are higher than one year ago in 91 of the 100 largest metros.
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March 2013 Trulia Price Monitor Summary |
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% change in asking prices |
# of 100 largest metros with asking-price increases |
% change in asking prices, excluding foreclosures |
|
| Month-over-month, seasonally adjusted |
1.1% |
Not reported |
1.4% |
| Quarter-over-quarter, seasonally adjusted |
3.5% |
90 |
4.0% |
| Year-over-year |
7.2% |
91 |
8.0% |
Asking-price gains are accelerating even though the inventory decline is not. In fact, inventory is falling less steeply now than it was a few months ago, but probably won’t turn around in 2013
The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do. With that, here’s the scoop on where prices and rents are headed.
Another Record Month-over-Month Gain: Asking Prices Rise 1.4% in February While Rents Slow
In February, asking prices rose 1.4% month-over-month, seasonally adjusted–the highest monthly gain since the home price recovery began. Year-over-year, asking prices rose 7.0% and were up in 90 of the 100 largest metros, with the biggest gains in Phoenix, Las Vegas, and Oakland. Quarter-over-quarter prices rose 3.0%, seasonally adjusted – yet another post-recession high. February also marks the one-year anniversary of when prices bottomed nationally.
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February 2013 Trulia Price Monitor Summary |
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% change in asking prices |
# of 100 largest metros with asking-price increases |
% change in asking prices, excluding foreclosures |
|
| Month-over-month, seasonally adjusted |
1.4% |
Not reported |
1.6% |
| Quarter-over-quarter, seasonally adjusted |
3.0% |
92 |
3.5% |
| Year-over-year |
7.0% |
90 |
7.4% |
Rent increases, however, are slowing down, rising just 3.2% year-over-year in February, led by big increases in Houston, Oakland, and Miami. Rents fell slightly in San Francisco and Las Vegas. Three months ago, in November, rents were up 5.4% year-over-year. Prices are now rising faster than rents in 20 of the 25 largest rental markets. (The full list of price and rent changes in the 100 largest metros is available for download here.)
0 commentsPrice trends, combined with measures of fundamental market health, show which metros are booming, rebounding, humming, or struggling.
The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do. With that, here’s the scoop on where prices and rents are headed.
Asking Prices Rise a Record 0.9% Month-over-Month Nationally
In January, asking prices rose 0.9% month-over-month, seasonally adjusted — the highest monthly gain since the price recovery began. Year-over-year, asking prices rose 5.9%; excluding foreclosures, asking prices rose 6.5%. Quarter-over-quarter prices rose 2.2%, seasonally adjusted. Prices typically fall in the wintertime, but asking prices still rose slightly (0.3%) quarter-over-quarter even without seasonal adjustment, indicating the strength of the price recovery. Asking prices were up year-over-year in 86 of the 100 largest metros.
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January 2013 Trulia Price Monitor Summary |
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% change in asking prices |
# of 100 largest metros with asking-price increases |
% change in asking prices, excluding foreclosures |
|
| Month-over-month, seasonally adjusted |
0.9% |
Not reported |
1.2% |
| Quarter-over-quarter, seasonally adjusted |
2.2% |
79 |
2.9% |
| Year-over-year |
5.9% |
86 |
6.5% |
Phoenix, Las Vegas, and San Jose post largest year-over-year price gains in December. Las Vegas and Seattle are 2012’s biggest turnaround markets.
The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do. With that, here’s the scoop on where prices and rents are headed.
Asking Prices Rise 5.1% Nationally Year-Over-Year, Up in 82 of the 100 Largest Metros
In December, asking prices rose 0.7% month-over-month, the tenth gain in twelve months, for a 5.1% year-over-year increase. Quarter-over-quarter prices rose 2.3%, seasonally adjusted. Price increases have accelerated in 2012: quarter-over-quarter price changes were 0.8% in Q1 (March 2012), 0.4% in Q2 (June 2012), 1.4% in Q3 (September 2012), and 2.3% in Q4 (December 2012), seasonally adjusted.
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December 2012 Trulia Price Monitor Summary |
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% change in asking prices |
# of 100 largest |
% change in asking prices, excluding foreclosures |
|
| Month-over-month, seasonally adjusted |
0.7% |
Not reported |
0.8% |
| Quarter-over-quarter, seasonally adjusted |
2.3% |
74 |
2.1% |
| Year-over-year |
5.1% |
82 |
5.5% |