Asking prices for homes in June increased 10.7 percent year-over-year, according to Trulia. If distressed home sales are excluded, the increase was 11.4 percent year-over-year. Based in San Francisco, data from the guru of real estate says, “However, the rate of increase will eventually slow down as mortgage rates rise, inventory expands, and investor demands fall.” In addition, as MHProNews has learned from nationalmortgagenews, rents in June have risen 2.8 percent year-over-year, climbing the most in Houston, Miami, and Tampa-St. Petersburg. Rents fell in markets where prices have risen over 30 percent: Las Vegas, Oakland and Sacramento, Calif.
