Inland Empire among top 10 metro areas for home asking price jumps in 2013

January 13th, 2014 | by Dominique Fong | Comments

tdsdc5-6be5brurrg16znea6ln_originalThe Inland Empire, which was hard-hit during the housing crash, was third out of the top 10 metro areas in the country for year-over-year asking price increases in 2013, a Trulia chart shows.

The harder you fall, the bigger the gain when the market is looking up again. The Riverside and San Bernardino counties rose 25.9 percent year-over-year in December 2013, according to Trulia, a housing website similar to Zillow and Redfin.

The Inland Empire trailed Las Vegas, a 33 percent year-over-year spike, and Sacramento, a 28.2 percent rise. For a list of the rest of the top 10, see Trulia’s chart.

The chart also shows that the Inland Empire experienced a 50 percent drop from the peak of the boom to rock bottom — a pretty steep plunge compared to the rest of California and the country.

It’s taken a few years for the region to recover, but 2013 seemed to signal a big change as prices increased, and not just for the Inland Empire.

The Coachella Valley mirrored the Inland Empire’s gain. In November, prices rose 23.5 percent from the same month a year before, according to DataQuick, a San Diego firm that tracks housing data through public records.

Business and real estate reporter Dominique Fong can be reached at (760) 778-4661, and on Twitter @dominiquefong.

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