Friday, November 08, 2013

Realtors survey: D-FW home prices rose 9.7 percent in the third quarter from 2012

D-FW home prices have been rising since early 2012. (DMN files)
Dallas-Fort Worth area home prices are up 9.7 percent from a year ago in the third quarter, a comprehensive study shows.
The D-FW prices were part of a National Association of Realtors study which showed third quarter home price gains in 163 U.S. markets.
Nationwide home prices showed the strongest annual growth in nearly eight years – up 12.5 percent from third quarter 2012, the Realtors said. Fifty-four of the cities included in the comparison had double-digit price gains.
“Rising prices and higher interest rates have taken a bite out of housing affordability,” said Realtors’ economist Lawrence Yun. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”
The biggest third-quarter home price increases were in Sacramento, up 41.8 percent; Las Vegas, up 31.9 percent, and Cape Coral-Fort Myers, Fla., up 29.5 percent from third quarter 2012.

By Steve Brown