Listing prices continue to rise in August

Asking prices for homes for sale on real estate search and marketing website Trulia were up 2.3 percent in August from a year ago, the largest year-over-year increase since the housing recession began.

A monthly report from Trulia covering for-sale and for-rent properties listed on the website through Aug. 31 showed asking prices posting annual gains in 68 of the 100 largest metro areas tracked.

Asking prices of homes for sale rose 0.8 percent from July to August, the seventh straight month of gains.

When foreclosures were excluded, asking prices were up 3.8 percent nationwide from a year ago, Trulia said.

"Asking prices excluding foreclosures are now rising faster than wages, putting an end to many years of affordability gains," said Jed Kolko, Trulia's chief economist, in a statement.  More…

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