|October 2012 Trulia Price Monitor Summary|
|% change in askingprices||# of 100 largest metros with asking-price increases||% change in asking prices, excluding foreclosures|
|Month-over-month, seasonally adjusted||0.7%||(not reported)||0.5%|
|Quarter-over-quarter, seasonally adjusted||1.8%||76||1.4%|
|Metros with Largest Year-over-Year Asking Price Increases|
|#||U.S. Metro||Y-o-Y % change in asking prices,October 2012|
|2||Cape Coral- Fort Myers, FL||15.7%|
|3||San Jose, CA||12.7%|
|4||Warren- Troy- Farmington Hills, MI||11.8%|
|5||West Palm Beach, FL||11.3%|
|6||Las Vegas, NV||10.9%|
|10||San Francisco, CA||8.7%|
|Metros with Largest Year-over-year Asking Rent Increases|
|#||U.S. Metro||% change in rents, Y-o-Y, October 2012|
|7||Minneapolis- St. Paul, MN-WI||8.5%|
|9||New York, NY-NJ||6.1%|
|10||San Francisco, CA||6.0%|
- “Continued widespread price increases are good for homeowners but not for home-seekers,” said Jed Kolko, Trulia’s Chief Economist. “For homeowners, rising prices add to their wealth and help bring underwater borrowers closer to positive equity. For home-seekers, however, rising prices could put homeownership out of reach. In markets like Denver, San Francisco, and Oakland, where prices and rents are both rising, higher prices mean higher down payments, but rising rents make it harder to save enough.”
- ”With asking prices rising again in October, sales prices by the end of this year should be just 1.1 percent lower than in January 2009,” said Jed Kolko, Trulia’s Chief Economist. “Home prices are climbing in most local markets and in eight of the eleven swing states. Rising prices have taken pressure off the presidential candidates from having to come up with detailed plans to help the housing market, and that’s a big reason why they haven’t focused on housing in the 2012 campaign.”
- To read the full report, see here.
- To download the full list of price and rent changes for the largest metro areas, see here.
- To download a graph of price changes from January 2011 to October 2012, see here.