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Friday, June 06, 2014
D-FW home prices outpace nation in first quarter report
Dallas-Fort Worth home prices grew faster than the
nationwide rate in a new survey by the National Association of Realtors.
During the first quarter, D-FW home prices were up 9 percent
from a year earlier, the Realtors said Monday. That’s slightly better than the
8.6 percent national home price gain.
In the survey of 170 U.S. home markets, the biggest price
increases were in South Bend, Ind., up 26.8 percent, and Naples, Fla., up 26.6
percent. Thirty-seven cities had double-digit percentage price gains.
The greatest home price declines from first quarter 2013
were in Cumberland, W.V., down 18.6 percent, and Springfield, Ill., down 15.1
All of Texas’ big-city home markets had strong first quarter
price gains. The largest was in the Houston area – up 12.8 percent from a year
While tight housing markets in many parts of the country are
driving prices, there’s been a slowing in the rate of home appreciation,
according to Realtors’ chief economist Lawrence Yun.
“The cooling rate of price growth is needed to preserve
favorable housing affordability conditions in the future, but we still need
more new-home construction to fully alleviate the inventory shortages in much
of the country,” Yun said in a statement. “Limited inventory is creating
unsustainable and unhealthy price growth in some large markets, notably on the
North Texas median home sales prices are up about 7 percent
so far this year, according to the latest data from real estate agents’ multiple
Sales in the D-FW area are slightly lower this year because
of the short supply of houses for sale.