HousingWire reports real estate data firm Trulia says home prices increased Dec. 2011 to Dec. 2012 5.1 percent, a distinct rebound from the 4.3 percent drop the previous year. In the largest annual increase to date, asking home prices rose 3.8 percent Dec. to Dec 2012. While Phoenix saw the largest increase in prices, at 26 percent year-over-year Dec., Las Vegas and Seattle had the most dramatic gains, each city having a ten percent-plus in asking prices. Likewise, rents have also risen, up 5.2 percent from 2011, with Houston, Oakland and Miami seeing the largest increases in that market. As MHProNews has learned, prices rose faster than rents in 17 of the largest 25 markets nationally. Jed Kolko, chief economist of Trulia, says “In 2013, rising prices will encourage more new construction and will encourage some homeowners to sell, which will help alleviate the current inventory shortage.”
