Home Asking Prices Rise 2.3% in August Over a Year Ago, Trulia Reports

According to Trulia’s Price Monitor, asking prices of homes in August this year increased by 2.3% compared to the previous year. This was the biggest year-over-year increase since the U.S. recession, Trulia reported.

Not including foreclosures, Trulia reported that asking prices increased nationwide by 3.8% compared to the previous year.

Meanwhile, the monthly increase was 0.8%, the seventh consecutive monthly increase, according to Trulia.

Out of the 100 large metros in the U.S, two-third or 68 had year-over-year price increases. In particular, Baltimore, Maryland had a 2.2% year-over-year asking price increase in August this year; while Bethesda-Rockville-Frederick, Maryland had a 5.5% year-over-year asking price increase.

“Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do,” Trulia said in a statement.

Jed Kolko, Trulia’s Chief Economist, said in a statement, “Asking prices rose 2.3 percent year over year in August … asking prices rose faster than at any time since the recession.”

Trulia’s Chief Economist added that “asking prices excluding foreclosures are now rising faster than wages, putting an end to many years of affordability gains.”

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