For the seventh straight month, asking prices on for-sale homes showed an increase in August, rising 2.3 percent year-over-year according to the Trulia Price Monitor. Excluding foreclosures, prices were up 3.8 percent.
On a regional basis, Trulia reported the price of for-sale homes increased in 68 of the nation’s 100 largest metros, headed by Phoenix; prices there were up 24.2 percent from last August. The greatest change was seen in Tucson, Ariz., and Las Vegas, both of which showed gains in August despite posting price drops in the previous quarter.
The top 10 include:
- Phoenix — 24.2 percent
- Cape Coral-Fort Myers, Fla. — 16.5 percent
- Warren-Troy-Farmington Hills, Mich. — 10.4 percent
- West Palm Beach, Fla. — 10.4 percent
- Tucson, Ariz. — 9.9 percent
- Miami — 9.6 percent
- Denver — 8.9 percent
- San Jose, Calif. — 8.6 percent
- Orlando, Fla. — 8.6 percent
- Las Vegas — 6.9 percent
While rents rose more than twice as much as home prices at 4.7 percent, this is down from May’s rate of 5.8 percent. Year-over-year, Houston was first on the list with an 11.2 percent jump; Seattle was close behind at 10.4 percent.
The full top 10 includes:
- Houston — 11.2 percent
- Seattle — 10.4 percent
- Denver — 9.9 percent
- San Francisco — 9.7 percent
- Miami — 9.7 percent
- Oakland, Calif. — 9.7 percent
- Boston — 8.7 percent
- Philadelphia — 8.6 percent
- Portland, Ore.-Wash. — 7.5 percent
- New York, N.Y.-N.J. — 6.6 percent
To read the full Trulia report, click here.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development