Earlier today, Trulia released the latest data for its November 2012 Trulia Rent Monitor. Rents were up nationally 5.6 percent year-over-year in November, compared to asking prices on for-sale homes increasing 5.4 percent over the same period.
But out of the Top 25 metros included in Trulia data, only 11 saw rents increase at a higher rate than asking home prices. Does this mean a housing recovery is really beginning to pick up steam? Take a look at the list below to see how the top 25 cities fared in home price growth versus rent growth during the month of November.
Metro Area (MSA) | Nov. 2012 Y-o-Y Rent Change | Nov. 2012 Y-o-Y Asking Price Change | |
Houston | 16.8% | 2.3% | |
Oakland | 11.6% | 10.5% | |
Miami | 10.8% | 7.6% | |
Denver | 9.0% | 12.4% | |
Philadelphia | 8.9% | -0.8% | |
Seattle | 8.3% | 8.8% | |
Minneapolis | 7.8% | 7.1% | |
Chicago | 6.9% | -3.1% | |
New York, NY | 6.6% | 0.3% | |
San Francisco | 5.8% | 9.5% | |
Boston | 5.7% | 3.2% | |
Portland, Ore. | 5.1% | 6.7% | |
Los Angeles | 5.1% | 2.8% | |
Atlanta | 5.0% | 6.0% | |
Baltimore | 4.7% | 1.2% | |
Dallas | 4.4% | 0.8% | |
Inland Empire, Calif. | 4.1% | 9.1% | |
Tampa/ St. Petersburg, Fla. | 3.4% | 7.4% | |
Orange County, Calif. | 3.2% | 7.7% | |
San Diego | 2.8% | 5.4% | |
Washington, D.C. | 2.6% | 6.4% | |
Phoenix | 2.3% | 26.9% | |
St. Louis | 1.2% | 1.7% | |
Sacramento | 1.2% | 5.0% | |
Las Vegas | -0.7% | 13.7% | |
