Asking Prices Flat in May

Asking prices on homes listed for sale were unchanged in May compared with April, according to the Trulia Price Monitor. Asking prices generally lead sales prices by approximately two months or more.

Seasonally adjusted, combined increases in April and March led to a 1.6 percent increase in asking prices in May on a quarter-over-quarter basis. The price increase unadjusted for seasonality was: 5.2 percent quarter-over-quarter, since prices typically jump in springtime. Year-over-year, asking prices fell slightly by 0.2 percent. Nationally, 41 out of the 100 largest metros had year-over-year price increases, and 86 out of the 100 largest metros had quarter-over-quarter price increases, seasonally adjusted.

Although asking prices declined overall, asking prices excluding foreclosures rose 1 percent year-over-year. Foreclosure prices declined 5.8 percent year-over-year.

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