The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and show what's really happening.
Although most of the housing markets with big price gains exhibit unhealthy fundamentals, some markets with rising prices are healthy. Markets with flat or falling prices include both healthy and unhealthy markets.
Nationally, rents rose 5.2 percent year-over-year, still slightly ahead of the national price gain of 5.1 percent. In Houston, Chicago, Philadelphia, and Baltimore, rents are rising much faster than home prices.
Prices are rising in at-risk metros because prices have fallen so far that they've attracted interest from prospective investors and international homebuyers, whose interest in U.S. homes can be volatile; in contrast, prices are rising in the in-the-clear metros primarily due to job growth.