Asking Prices Continue To Rise Into Autumn

Asking Prices Continue To Rise Into Autumn

Asking Prices Continue To Rise Into Autumn

Trulia Report: Asking Prices Jump 3.8 Percent Overall In November

Ask and you shall receive. Or that’s how the saying goes. Home sellers continue to ask for more and in turn continue to receive more according to recent real estate numbers on Trulia. As a whole, asking prices jumped 3.8 percent in November from a year ago which represents the largest year-over-year increase since the housing bust.

The numbers showed not only an annual gain but seasonal gains as well. The list prices showed an increase for the normally slower autumn downturn in sales as list prices ending in November showed a rise of 0.8 percent from the previous quarter.

The report only covers home for sale on Trulia and the report showed that 76 of the larges 100 U.S. metro areas displayed gains. When excluding foreclosures the list prices show a 4.3 percent rise for the year.

Northern California Rents and Sales Prices Rise

As far a local Northern California areas, we find no surprise in the numbers that show that Sacramento showed some of the best numbers for price increase. Typically California areas that got hit hard by the bubble burst (e.g. Sacramento, Inland Empire) have seen the biggest price jumps.

November also showed that the rental market continues to heat up with asking rents jumping 5.6 percent from a year ago. The report showed that asking price gains show a greater percentage than rent price gains in areas such as San Francisco (5.8%) and Oakland (11.6%)

Seeing sales price percentage outrace rental asking prices with such bounding leaps may offer cause for both markets because even with the improving economy the jumps may not continue for both of these fast moving markets.

November 2012 Trulia list price summary

Time period Change in list prices Change in list prices, excluding foreclosures No. of 100 largest metros with list-price increases
month-over-month, seasonally adjusted 0.8% 0.8% Not reported
quarter-over-quarter, seasonally adjusted 2.2% 1.6% 70
Year-over-year 3.8% 4.3% 76

Source: Trulia

Metros* with largest increases in asking rent, November 2012

Rank Metro Change in asking rents from a year ago
1 Houston 16.8%
2 Oakland, Calif. 11.6%
3 Miami 10.8%
4 Denver 9.0%
5 Philadelphia 8.9%
6 Seattle 8.3%
7 Minneapolis-St. Paul, Minn.-Wis. 7.8%
8 Chicago 6.9%
9 New York, N.Y.-N.J. 6.6%
10 San Francisco 5.8%

*Among the 25 largest rental markets.

Photo courtesy of Wikipedia

Asking Prices Continue To Rise Into Autumn

Asking Prices Continue To Rise Into Autumn

Asking Prices Continue To Rise Into Autumn

Asking Prices Continue To Rise Into Autumn

Asking Prices Continue To Rise Into Autumn

Asking Prices Continue To Rise Into Autumn

Asking Prices Continue To Rise Into Autumn

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Filed under California, Foreclosure, San Francisco

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