asking prices up in least-affordable housing markets

AFFORDABLE HOUSING MARKETS

Asking prices continue to increase steadily nationwide in May, rising in 98 of the largest 100 metros, according to Trulia’s Price Monitor. Nationally, prices are up 9.5 percent year-over-year. Seasonally adjusted, prices increased 4 percent quarter-over-quarter and 1.1 percent month-over-month.

Eight out of the 10 least affordable markets, with seven in California, are all showing double digit increases in asking prices, making home affordability even tougher for would-be buyers. Orange County, Oakland, and San Jose all had price increases of more than 20 percent, making these already expensive markets even less affordable. Prices are up 16.3 percent, on average, in these 10 least affordable housing markets.
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