Publication Date:
Mon, 2012-04-09 16:34
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Sitting atop the Trulia Price Monitor's list of the 10 metro areas with the greatest increase in home prices year-over-year, Cape Coral-Fort Myers was one of six Florida communities showing significant growth.
The March release of the Trulia Price Monitor reveals that of the 100 largest metropolitan areas nationwide, Cape Coral-Fort Myers saw the greatest increase in home prices from 2011. As of last month, prices there were up 14.8 percent year-over-year, according to data reported in The Atlantic Cities.
The rest of the list is as follows:
2. Miami – 14.1 percent
3. Phoenix – 13.2 percent
4. Pittsburgh – 9.2 percent
5. Little Rock, Ark. – 6.7 percent
6. Orlando, Fla. – 6.3 percent
7. North Port-Bradenton-Sarasota, Fla. – 6.2 percent
8. Palm Bay-Melbourne-Titusville, Fla. – 6.1 percent
9. West Palm Beach, Fla. – 5.8 percent
10. Warren-Troy-Farmington Hills, Mich. – 5.6 percent
On the whole, prices seem to have bottomed out in January; March prices were up an average of 1.4 percent from the previous quarter. Unlike other similar indexes, the Trulia Price Monitor is based on current asking prices as opposed to actual sale prices.
While the areas listed above showed significant growth, others saw prices continue to go the other direction. Tacoma, Wash., led this group, where home prices decreased 11.9 percent from the previous quarter.
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