August Asking Prices Rise At Fastest Pace Since Recession

Trulia’s Price Monitor measures asking price, rather than sales price, in order to provide the most current information on housing market trends and home values. In August, prices posted their seventh straight monthly increase and a 2.3 percent year-over-year gain. The improvement over last year was the biggest since the recession and, excluding foreclosures, equaled a nearly 4.0 percent increase in home prices. According to the report, prices rose in 68 of the country’s 100 largest metropolitan areas, with the largest increases occurring in Phoenix, Tucson, and Las Vegas. Jed Kolko, Trulia’s chief economist, said asking prices rose faster than at any time since the recession in August and, excluding foreclosures, are now rising faster than wages. More here and here.

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