Asking prices stay strong into autumn | Chappaqua NY Real Estate

Asking prices for homes on real estate portal Trulia’s website were up 3.8 percent in November from a year ago, the largest year-over-year increase since the housing recession began, according to a monthly report from Trulia.

In addition to posting annual gains, asking prices showed strength going into the seasonal autumn slowdown in sales, with list prices for the three months ending in November up a non-seasonally adjusted 0.8 percent from the previous quarter, Trulia said.

The report, which covers for-sale and for-rent properties listed on Trulia through Nov. 30, showed that asking prices on for-sale homes posted annual gains in 76 of the 100 largest U.S. metro areas. When foreclosures were excluded from the equation, list prices were up 4.3 percent for the year.

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

Price gains, though significant overall, are more pronounced in some metros than others, the report noted. Many large metros fared better than smaller ones.

“Prices are rising faster than at any point since the bubble burst, but the price recovery is becoming more uneven,” said Jed Kolko, Trulia’s chief economist, in a statement. “Price gains are starting to waver in smaller markets.”


Jed Kolko

Atlanta, Riverside-San Bernardino, Calif., and Sacramento, Calif., are three metros hard hit by the housing collapse that saw significant quarter-over-quarter growth in November to match the sustained growth seen by Phoenix, Las Vegas and Miami over the course of the year.

Asking rents were up, too, in November, jumping 5.6 percent from a year ago. But asking-price gains, the report showed, are now greater than rent-price gains in the 25 largest rental markets, including Denver, Seattle and San Francisco.

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.

This post was last modified on December 6, 2012 10:53 am

Robert Paul

Robert is a realtor in Bedford NY. He has been successfully working with buyers and sellers for years. His local area of expertise includes Bedford, Pound Ridge, Armonk, Lewisboro, Chappaqua and Katonah. When you have a local real estate question please call 914-325-5758.

Recent Posts

Out of Sevice with brain injury since November.

Just back out of hospital in early March for home recovery. Therapist coming today.

1 year ago

Existing home sales down 28% | Katonah Real Estate

Sales fell 5.9% from September and 28.4% from one year ago.

1 year ago

Single-Family Housing Contraction Continues | Bedford Hills Real Estate

Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…

1 year ago

Closed Median Sale Price in Hudson Valley/NYC Markets Declined by 2.50% in October | Bedford Real Estate

OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…

1 year ago

Building Materials Prices Decline for Second Consecutive Month | Pound Ridge Real Estate

The prices of building materials decreased 0.2% in October

1 year ago

Mortgage rates drop with inflation drop | Bedford Corners Real Estate

Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.

1 year ago

This website uses cookies.