|January 2013 Trulia Price Monitor Summary|
|% change inasking prices||# of 100 largestmetros with asking-price increases||% change in askingprices, excluding foreclosures|
|Month-over-month,seasonally adjusted||0.9%||Not reported||1.2%|
|BOOMING Big price increases and healthier market fundamentals.|
|HUMMING Stronger market fundamentals without dramatic price gains.|
|REBOUNDING Big price increases, but weaker market fundamentals.|
|STRUGGLING Neither strong market fundamentals nor big price gains.|
|Where Rent Gains Slowed Down Most|
|#||U.S. Metro||% Change in Rents, Y-o-Y, Jan 2013||% Change in Rents, Y-o-Y, July 2012||Percentage Point Difference|
|1||San Francisco, CA||2.4%||11.5%||-9.1%|
|5||San Diego, CA||2.0%||4.4%||-2.4%|
|NOTE: Among largest 25 rental markets. All figures are rounded, and differences (rightmost column) were calculated before rounding, so some differences shown may not equal the difference of the rounded values.|
- “In many local markets today, dramatic price gains can mask serious red flags,” says Jed Kolko, Trulia’s Chief Economist. “Strong job growth, low vacancy rate, and low foreclosure inventory–not huge price gains–are signs of a healthy housing market. Without strong underlying market fundamentals, price rebounds might be here today, but gone tomorrow.”
- “Rent gains are slowing down because of more supply, not less demand,” explains Jed Kolko, Trulia’s Chief Economist. “Many of the multi-unit buildings that have been under construction over the past two years are now coming onto the market. Renters in San Francisco, Seattle, and Denver are starting to get a touch of relief, even though rising prices might put homeownership out of their reach.”
- 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 January 2013, see here.
- To download a scatter plot graph contrasting price trends with the market's health for the 100 largest metros, see here.