Tuesday, March 03, 2015
CoreLogic: Dallas has second highest U.S. home price gain
Dallas-area home prices continued their pace of scorching increases in January.
Dallas had the second highest home price gain in the country, rising 9.1 percent from January 2014, according to CoreLogic Inc.
Only Houston – with a 10.9 percent rise – had faster growing residential values.
Nationwide prices were up 5.7 percent in the first month of 2015 compared to a year earlier.
“House price appreciation has generally been stronger in the western half of the nation and weakest in the mid-Atlantic and northeast states,” Frank Nothaft, chief economist at CoreLogic, said in the report. “In part, these trends reflect the strength of regional economies.
“Colorado and Texas have had stronger job creation and have seen 8 to 9 percent price gains over the past 12 months in our combined indexes,” he said.
CoreLogic is predicting that nationwide home prices will rise by just over 5 percent in the coming year.
North Texas home prices rose by almost 10 percent in 2014 – almost double the average long term rate for this market.
Steve Brown, The Dallas Morning News