Data from the most recent Trulia Price Monitor shows that asking home price are up 8.3% year-over-year across the nation. But, as with all things real estate, the local data is what matters most.
Top 10 Metros for Asking Home Price Gains
Congrats on the growing commissions to those of you who work in cities that made this month’s hot list. For the rest of you, keep reading for tips on how to get local data to help you sell the benefits of listing now and score more listings in today’s low inventory market.
Step 3: Click “More Local Info” to get to your area’s local stats page
Here you can get real time data updates, screen shots of color-coded heatmaps, and easy-to-read graphics that show how prices are ticking up in your market.
Do the big spikes mean bubble?
According to Trulia’s Chief Economist, Jed Kolko, “Home prices today are rising nearly as fast as they did during the peak bubble years of 2005-2006. Since that bubble helped push us into the Great Recession, we should all be on high alert for the next housing bubble.”
For the short answer, check out one of our newest monthly data releases, Trulia’s Bubble Watch for the latest on whether or not today’s good news is sustainable.