Asking prices rise in September

The level of asking prices for residential properties rose in September from the same month last year, according to real estate records from Trulia.

The level of asking prices for residential properties rose in September from the same month last year, according to real estate records from Trulia.

Home asking prices in September rose 2.9 percent compared to September 2011, but this figure increased nearly a percentage point when not including foreclosed homes. The report also explained that real estate records showed the asking price level jumped close to 2 percent from the previous quarter, as well as 0.7 percent from August's figure.

"Continued widespread price increases are good for homeowners but not for home-seekers," said Jed Kolko, chief economist for Trulia. "For homeowners, rising prices add to their wealth and help bring underwater borrowers closer to positive equity. For home-seekers, however, rising prices could put homeownership out of reach."

The report added that nearly 80 of the 100 largest cities had increases in asking prices compared to the previous quarter, while 69 had jumps from the same point last year.

Price gains occurred in August, as well, according to property data from S&P and Case-Shiller. Their Home Price Indices showed prices rose 0.9 percent for both the 20-City Composite and 10-City Composite during the month.



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