Home Prices Continue Climb In October

Each month, Trulia’s Price and Rent Monitors are among the earliest indicators of trends in home prices and rental costs. October’s results found yet another sign that home values are on the rise across the country. Asking prices for available homes increased 2.9 percent from last year and, excluding foreclosures, were up 3.6 percent. Seven cities saw price gains of 10 percent or more. Jed Kolko, Trulia’s chief economist, said with asking prices rising again in October, sales prices should be just 1.1 percent lower than in January 2009 by the end of the year. Nationally, price gains were outmatched by rent increases, which gained 5.1 percent over last year. More here.

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