Home Prices Growing at Slow Pace, Report Finds - East Idaho News
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Home Prices Growing at Slow Pace, Report Finds

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GETTY 10914 HomeSale?  SQUARESPACE CACHEVERSION=1412870800135iStock/Thinkstock(NEW YORK) — Condo prices and apartment rents are rising faster than the rest of the housing market.

The real estate firm Trulia says September condo prices rose 7.3 percent compared with the year before, versus 6 percent for single-family homes. Condo rents also went up, increasing 6.9 percent — well above the general inflation rate.

Home price increases, meanwhile, are the smallest they’ve been in several years. And as Trulia Chief Economist Jed Kolko points out, “We are not close to being back to a bubble.”

“Even though there’ve been big price increases over the past couple of years, today looks nothing like 2006, the height of the last housing bubble,” Kolko says.


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