Wednesday, December 03, 2014

Dallas-area home price gains second highest in U.S


Only Houston had a bigger home price gain in October among major U.S. markets.
The Dallas area had the second highest home price gains in the country in a new nationwide comparison.
Dallas home prices were up by 9.1 percent in October from a year earlier in the new report by CoreLogic Inc. Only Houston at 11.3 percent had a higher annual home price increase for the year, CoreLogic researchers found.
Nationwide prices were up 6.1 percent from October 2013.
The large Texas housing value growth comes at a time when home price gains are moderating in most parts of the country.
“Home price growth is moderating as we head into the late fall and is currently running at half the pace it was in the spring of 2014,” said Sam Khater, deputy chief economist at CoreLogic. “However, there are still pockets of strength, especially in several Texas markets, as well as Seattle, Denver and other markets with strong economic fundamentals.”
Home prices in most Texas markets are now at all-time highs.
Prices in the Dallas area are now 12 percent higher than the peak before the recession in 2007.
 By Steve Brown   stevebrown@dallasnews.com