Asking prices on for-sale homes -- which lead sales prices by approximately two or more months -- increased 0.5 percent in July month over month, seasonally adjusted, for a sixth straight monthly gain, according to the real estate information company Trulia Inc. of San Francisco. Prices also increased in two of the three Central Valley markets Trulia monitors. Rental rate growth in Sacramento, where asking prices for homes fell, increased. Here are Trulia’s figures for Central Valley markets. The first number of the percentage increase in asking prices for homes on a year-over-year basis; the second is the percentage increase rents on a year-over-year basis: • Bakersfield: 1.8 percent; rents not reported • Fresno: 0.1 percent; rents not reported • Sacramento: -1.5 percent; 2.6 percent Comparing the yearly gains with the most recent quarterly gains, the housing price recovery has clearly shifted from Florida to Arizona, California and Nevada, says Trulia. Although Miami and other Florida metros had large Y-o-Y price increases, Las Vegas and other Southwestern metros had faster gains in the most recent quarter. Rents increased Y-o-Y in 24 of the 25 largest rental markets, with rent increases topping 10 percent in San Francisco, Miami, Oakland, Denver, Seattle and Boston. Three months ago, only two large rental markets -- San Francisco and Miami -- had Y-o-Y rent increases of 10 percent or more. Rents are rising faster than asking prices in 21 of the 25 largest rental markets Y-o-Y. "The housing price recovery looks stronger than at any other point since the bust," says Jed Kolko, Trulia's chief economist. "For the first time, prices are up year over year in a majority of metros, and asking home prices have increased for six straight months. Rents, however, are rising even faster than prices in most markets. These price and rent increases, along with declining vacancies, should encourage new construction, which means housing will finally start contributing to the economic recovery."

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