• According to the Consumer Price Index, tracked by the Bureau of Labor and Statistics (BLS), prices for the rent of a primary residence have increased at an average rate of a little more than 3 percent per year for the last ten years. The table above shows monthly, annual, and total rent over ten years assuming a 3 percent annual increase.

• By contrast, a home buyer who locks in a thirty-year mortgage will have fixed mortgage payments. Buyers locking in a mortgage rate now have fixed payments at record low rates.
• Of course, an average increase indicates what's typical, but not every year will be typical. In 2009, when the prices of all items decreased by 0.4 percent, prices for the rent of a primary residence increased 2.3 percent across the US. The typical increase in all prices over the last ten years was 2.5 percent.
• 2010 looks to be another atypical year. All prices in the year ending September 2010 were up 1.1 percent while the price of rents in the same period rose 0.2 percent.
• Consumer Price Inflation data is released by the BLS every month near the middle of the month. NAR tracks this and other inflations series in Inflation Watch, posted on Research's Facebook Page.

By Danielle Hale, Research Economist

©2010 NATIONAL ASSOCIATION OF REALTORS®. All rights reserved.

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Remember the excitement of the annual Big Book Sale at the Clunie Clubhouse?  Remember the overwhelming number of books, the sun beating down on the outside tables and the rain we had some years?  Our solution to the challenges of that sale is to hold big quarterly sales at our spacious Book Den warehouse.  We have the same wonderful selection of books, sorted by category, with a less overwhelming number at each sale.  And the sale is held entirely indoors!  Many books are on shelves, making shopping easier.  Prices are the same, ranging from 50 cents for pocket books to $2 for hardbacks.  Come and experience the excitement four times a year!
All sales will be held at the Warehouse behind the Book Den Store, 8250 Belvedere Avenue, Suite E, in. The Book Den Bookstore is always open during the Warehouse sales.

Become a Friends of the Sacramento Public Library member and enjoy the benefit of shopping first at the quarterly book sales.