Houston Asking Prices Increases Remain Strong

by Peter Thomas Ricci

Asking prices remained quite strong in our metro area in May, according to fresh numbers from Trulia.

The good times continued to roll for home prices in the Houston area in May, with asking prices rising 9.2 percent yearly and 2.2 percent quarterly, according to the latest Price Monitor from Trulia.

Additionally, asking rents in the area rose 3.7 percent year-over-year.

Is the Honeymoon Over?

Those increases, though, were relatively small by Houston’s previous standards, and if national trends are any indicator, we shouldn’t get too comfortable with such increases. As Jed Kolko, Trulia’s chief economist, explained in his notes to the Price Monitor, asking prices in May rose at their slowest rate in 13 months, and for the first time since July 2012, no metro areas saw home prices rise more than 20 percent year-over-year.

How did our market, though, compare with the rest of the nation? Check out our graph below for an idea:

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