US real estate prices rose another 2% in May to begin June 2013 up 10% over last year at this time, and up 24% since the botton of the market March 18, 2011.
Home prices will peak for the year at the end of June and begin a normal, seasonal stabilization and decline for the second half of the year. Year over year, the data looks very clear that home prices will end the year up 10-12% over where they began 2013.
US Real estate prices as of June 1, 2013. Single family homes composite across 20 major US markets. Source: Altos Research
Rents Climbing Monthly
Rents, as measured across both single family homes and apartments, were up 0.4% in May and up 6% year-to-date. Rents and home prices are moving in tandem as household formation grows (movin’ on out after five years of staying at home with mom.)
US rental rates as of June 1, 2013. From a sample of nearly 1 million homes and apartments for rent across the US each week. Source: Altos Research
Altos Rental Intel
If you’re interested in the full rental data, Altos is the only place where you can get not just rental rates, but the full set of properties listed for rent for your analytics and research. See Altos Rental Intel for details.