Rising Home Prices: Coming to a Market Near You | Trulia Pro Blog.
One month ago, we introduced the Trulia Price Monitor and Trulia Rent Monitor as the earliest leading indicators of how asking prices and rents are trending nationally and locally. So what happened to prices and rents in April?
April’s Price Rise Makes a Three-Month Streak
Nationally, housing prices have bottomed and are on the rise. Asking prices on for-sale homes were 1.9% higher in April than one quarter ago. A 0.5% month-over-month rise in April, on top of month-over-month price increases in March and February, makes for three months in a row of rising asking prices, after adjusting for typical seasonal trends. In fact, prices have been stable or rising for the past eight months, except for a dip in December 2011. This marks a new milestone: asking prices were 0.2% higher in April than a year ago. Before April, prices were still falling year-over-year.