The timing of signs of improvement in housing are welcome news for the President, particularly as the debates heat up and voters begin making their decision.
Home prices continue to rise
According to the September 2012 Trulia Price Monitor and Trulia Rent Monitor, which track asking prices and rents, adjusted for the changing mix of listed homes, asking prices are up 2.5 percent nationally compared to September 2011. The real estate media company tied their indices to the current political debates, noting the timing of specific data points as beneficial to President Obama.
Asking prices are up 2.5 percent nationally year-over-year. Prices are now up in 74 of the 100 largest metros. At this pace, Trulia forecasts prices will be up 4.0 percent for 2012 overall – the first yearly price gain since 2006.
Additionally, rents rose 4.8 percent compared to September 2011, continuing to outpace price gains, the report notes.
Trulia points out that the asking prices are up year-over-year in six of the seven swing states: Nevada, Florida, Colorado, Iowa, Missouri, and Virginia, but down in North Carolina, noting that price recovery in Florida and Nevada where the housing bust was the most severe is “good news for Obama.”