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Houston Asking Price Growth Among Best in Nation in August

by Peter Thomas Ricci

Asking prices continued their ascent in August, according to new numbers from Trulia.

Asking prices in the Houston area rose 10.4 percent year-over-year in August, according to the latest Price Monitor from real estate website Trulia.

That gave Houston some of the strongest price growth in the nation, as the area’s residential housing market continued to show strength; in addition, asking prices were up 4.2 percent from quarter to quarter.

Judicial States Staging a Comeback

Houston, though, was not alone in its strong August showing, as every large metro area put up strong asking price increases in August. In fact, according to Jed Kolko, Trulia’s chief economist, even metro areas in judicial states (where the foreclosure process has taken much longer than in non-judicial states) are showing increased pricing activity.

“Even judicial states are seeing the light at the end of the foreclosure tunnel and are getting their own price boost,” Kolko wrote. “In August 2014, asking prices on for-sale homes excluding foreclosures were up 6.9 percent year-over-year in metros in judicial states, only slightly behind the 7.8 percent increase in metros in non-judicial states. In contrast, in August 2013, the year-over-year price gain was 14.1 percent in non-judicial states and just 5.1 percent in judicial states.”

Interested in how Houston compared with the rest of the nation? Check out our graph below for some perspective:

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