Trulia: Asking Prices Have Risen for Three Straight Months
✉️ Want to forward this article? Click here.
Courtesy of Trulia Trends
Trulia Trends, the analytical wing of the real estate website that goes by the same name just released its latest Price and Rent Monitors, indexes of home prices and rents across the country that aim to be a better barometer of changes in prices and rents than widely followed indices like Case-Shiller. A full explanation of Trulia’s methodology can be found here, but in short, it compares current asking prices and asking rents year-over-year and quarter-over-quarter, adjusting for seasonal swings.
The numbers released today found that asking prices of for-sale homes increased by 0.2 percent nationally since last year, while rents are 5.6 percent higher than 12 months ago. While rents have been increasing for a while, the rise in asking prices is a notable milestone. “This is the first time in awhile we’ve seen year-over-year asking price increases,” Jed Kolko, Trulia’s Chief Economist, told UrbanTurf, noting that asking prices have been on the rise now for three straight months.
In the DC area, asking prices are way up, rising 5.2 percent since last year. (Rents have risen by 4 percent.) While the looming wave of foreclosures entering the market will impact housing prices in many areas, Kolko believes that DC will not be as affected as places like Florida, Illinois and New Jersey.
Courtesy of Trulia Trends
Kolko gave us a bonus fact about DC: In calculating the number of construction permits issued per 1,000 housing units across the country, DC is the only major northeastern city in the top ten list, which is mostly populated by cities in Texas and North Carolina.
For more stats and analysis, click here.
See other articles related to: trulia, trulia trends
This article originally published at https://dc.urbanturf.com/articles/blog/trulia_asking_prices_rise_for_three_straight_months/5490.
Most Popular... This Week • Last 30 Days • Ever
In this edition of First-Timer Primer, we look at the ins and outs of the 203k loan.... read »
Plans for the large new residential project are looking to get started again after mo... read »
The Wall Street Journal is reporting that Jeff Skoll has purchased two homes on nine ... read »
The residential pipeline in Adams Morgan has slowed in recent years, and now there ar... read »
The Sidney features 48 beautifully designed condos, and is one of DC’s only large c... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro