Tag Archives: Trulia

A recent study conducted by Trulia shows that while Democratic- and Republican-leaning U.S. markets were affected similarly by the housing crisis, the most pressing current issues of the housing industry seem to be more severely affecting Democratic-leaning metros.

Buying a home is still cheaper than renting in most markets across the country, and even cheaper than a year ago, according to the latest Rent vs. Buy report from Trulia. According to Trulia, when the purchase includes 20 percent down and a fixed 30-year mortgage, buying is 38 percent cheaper than renting.

Condo prices are rising faster than single-family home prices, according to the Trulia Price Monitor, which observes asking prices on a monthly basis. Asking prices for condos rose 7.3 percent year-over-year in September, while asking prices for single-family homes rose 6.0 percent. Condo price gains outpaced single-family price gains in 18 of the largest 20 condo markets, according to Trulia.

Despite inching closing to the tipping point, home prices still haven't reached a stage where fears of a bubble are justified, says Trulia. The company recently released its third quarter Bubble Watch report, which measures whether home prices are over- or undervalued relative to their fundamental value. Comparing current movements to long-term trends, the report suggests home prices nationally remain 3 percent undervalued.

According to the latest Trulia Housing Barometer, while home prices, sales, and delinquency rates are all most of the way back to normal, new construction starts and a poor employment rate among young adults are snagging full economic recovery. However, all five indicators have improved year-over-year, if slightly in some areas.

Home prices leveled up nationwide in August, boosting long-dawdling markets in the South and accelerating the recovery in other states as foreclosure gluts begin to clear, according to Trulia. According to Trulia, asking home prices only nudged along by 1 percent nationally last month, just a little above the marginal climb in July. Asking prices, meanwhile, leapt ahead by 7.8 percent year over year.

Based on trend data collected from 2011–2013, Trulia reported Tuesday that home searches on its website nationally come in 6 percent below the annual average for the months of September and October as summer transitions into fall. Trulia's analysis follows a report last week from Redfin in which Chief Economist Nela Richardson predicted the strongest fall season in years for home sales as the market comes closer to balance.

Trulia Chief Economist Jed Kolko made projections on Monday for the rest of this year based on construction numbers reflected in Census and other government data that it collected from the past eight months and 2013. According to the company, construction is set to rise higher than year-over-year averages in major metropolitan areas like Boston, San Jose, and New York, with more major cities based in Texas.

The highest home price gains for July 2014 were in the Midwest and South, and those gains are more likely a result of job growth as opposed to other market influences, according to the Trulia Price Monitor. Average month-over-month gains for the top 100 U.S. markets were 0.8 percent for July after a 1.2 percent increase for June, the company reported.

Zillow, Inc., announced Monday it has entered into a definitive agreement to acquire longtime rival Trulia, Inc., for $3.5 billion in stock.