Asking Prices Soar Nationwide

October 8, 2012

Asking prices posted their largest year-over-year increase since the housing slump began, a monthly report from Trulia shows. Home prices listed on the Trulia web site were up 2.5 percent nationally. When foreclosures are left out, asking prices were up 3.5 percent from year-ago levels. 

Asking prices on listed homes rose in 74 out of the 100 largest metro areas Trulia tracked. From July to August, asking prices posted a 0.5 percent gain, marking the eighth consecutive month for price increases. 

"Right now, prices are recovering across the country, with few local markets left behind," says Jed Kolko, Trulia's chief economist.

The report, also including for-rent properties listed on Trulia, showed asking rents have increased nearly 5 percent from a year ago in September. The metros posting the largest asking rents in the past year were Houston (15.9%); Miami (10.4%), Seattle (9.6%), and Oakland, Calif. (9.2%).

Source: “Asking Prices Post Biggest Increase Since Bust Began,” Inman News (Oct. 4, 2012)