Home Price Trends Point To Further Increases

If the current year-to-date price trend continues, 2012 will be the first year that home prices have increased since 2006. Trulia’s Price Monitor, which is among the earliest leading indicators of price trends, shows September asking prices were up 2.5 percent year-over-year and increased 3.5 percent when excluding foreclosures. Jed Kolko, Trulia’s chief economist, said prices are recovering across the country with the strongest gains seen where job growth has boosted demand and declining inventory has lead to tighter supply. States where prices saw significant gains include Nevada, Florida, Colorado, Iowa, Missouri, and Virginia. More here.

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