Asking prices for US homes were up 10 per cent year-over-year in March, said Trulia Thursday. Despite declining investor purchases and more inventory coming onto the market, asking home prices continued to rise at the start of the spring housing season.
Month-over-month, asking prices rose 1.2 per cent nationally in March 2014, seasonally adjusted. Quarter-over-quarter, asking prices rose 2.9 per cent in March 2014, seasonally adjusted, reflecting three straight months of solid month-over-month gains.
In March, rents rose 3.9 per cdent year-over-year nationally. Rent increases were higher for apartments, up 4.4 per cent year-over-year, than for single-family homes, up 1.9 per cent year-over-year.
In November 2013, year-over-year asking prices were up 12.2 per cent. In December, the year-over-year increase in asking home prices slowed slightly to 11.9 per cent. In January, the year-over-year increase was 11.4 per cent, in February, the increase was 10.4 per cent – and now the increase is 10 per cent.
This suggests prices are still increasing, but at a slightly slower pace, said Trulia.
