Home Asking Prices Increase in March 2012

For Purchase

Asking prices rose 1.4 percent nationally in March compared with the previous quarter, according to Trulia’s Price Monitor.  On a month-over-month comparison, asking prices increased 0.9 percent in March and 0.6 percent in February.

Throughout 2011, asking prices rose slightly in several months of the year, but never more than 0.2 percent in a month. Asking prices in March were 0.7 percent below their level one year earlier.

Rentals

Asking rents rose over the past year in almost all large metro areas included in the Trulia Rent Monitor. In the largest metros, rents rose 6.2 percent in New York and 6.1 percent in Chicago, but only 0.6 percent in Los Angeles. Rents rose strongly in Miami (12.1 percent) and Denver (9.9 percent), which also experienced large asking price increases. Meanwhile, rental affordability declined in places where rents rose while prices fell, most notably in San Francisco (rents up 11.1 percent), Seattle (9.7 percent), San Jose (9.4 percent), and Boston (9.2 percent).

~ Trulia

We have to say cheers to the great news! The real estate market is picking up and it’s a perfect time for the market to turn around! This means if you have been wanting to sell your home, do it soon since you can sell your house for more money! Let me know if you need my help. Contact me at katiebrealty at gmail.com! Thanks!