Price Gains Cool Down In Hottest Markets

Trulia’s Price Monitor gauges home price trends based on asking prices, which means the Monitor is among the earliest indicators of where home values are headed mostly due to the fact that asking prices lead sales prices by approximately two months. In November, asking prices were up 1 percent month-over-month and 3 percent quarter-over-quarter. Prices are now 12.1 percent above last year and have risen in all but two of the largest metros over the past 12 months. Despite the increases, however, home price gains are beginning to slow after spiking earlier this year. The slowdown is most pronounced in metropolitan areas that experienced the largest price increases in the first half of 2013. On the other hand, in the 56 markets where prices rose by less than 10 percent year-over-year, price gains actually accelerated in the most recent quarter. More here.

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