Talking Points …
- Asking prices fell 0.3% in July, which is the first month-over-month decline since November of last year, according to Trulia. Overall, the year-over-year increase in quarterly asking prices increased at a slower pace during the second quarter than in the first.
- The quarterly asking home price gain was lower than in the previous quarter in 64 out of 100 U.S. metros. On the West Coast, a slowdown was particularly apparent. Many metros in the South and Midwest are seeing price gains accelerate
- Despite the fact that asking home prices slowed down, July was the first time that prices outpaced rents in the 25 largest rental markets since Trulia started tracking rent trends in March 2011.