What's Hot: Barnes and Noble Returns To Georgetown Next Week | How An Unmarried Couple Buys A Home Together
Your Rent May Not Increase As Much As You Think This Year
✉️ Want to forward this article? Click here.
Data released on Monday reveals that housing asking prices in the DC area and around the country are moving up more than ever, however rents in the region, are slowing their rise.
In October, asking prices rose by 5.7 percent year-over-year in the DC area and 2.9 percent nationwide, according to Trulia’s latest Price and Rent Monitors. (If you exclude foreclosures, asking prices year-over-year nationally increased 3.6 percent.)
“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.”
While sale prices are rising, Trulia’s Rent Monitor found the rate of acceleration for residential rents is slowing down. In DC, asking rents were up 2.7 percent year-over-year, down from a 3.4 percent increase in September and a 3.7 percent increase in August. Nationwide, rents rose 5.1 percent annually, still outpacing the housing price increase.
For more stats and analysis, click here.
A full explanation of Trulia’s methodology can be found here, but in short, the Price and Rent Monitors compare current asking prices and asking rents year-over-year and quarter-over-quarter, adjusting for seasonal swings.
See other articles related to: trulia, trulia trends
This article originally published at https://dc.urbanturf.com/articles/blog/trulia_rent_in_dc_slowing_their_rise/6254.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explore the considerations and steps involved in buyi... read »
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
The most expensive home to sell in the DC region in years closed on Halloween for an ... read »
Paradigm Development Company has plans in the works to build a 12-story, 110-unit con... read »
The map and text amendment applications that were filed with the Commission last Octo... read »
- How An Unmarried Couple Buys a Home Together
- What Are Estate Taxes and How Do They Work?
- The Cliffs in McLean Sells For $25.5 Million, Highest Home Sale In DC Area In Years
- 110-Unit Condo Project Planned in Alexandria Coming Into Focus
- The Zones That Could Lead To More Development in Chevy Chase Set To Go Before Zoning Commission
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