Dallas Area Home Prices Continue Growing, Slowly
Posted On 1:53 pm
Dallas-area home prices rose at the slowest rate in six years in the latest nationwide housing market comparison.
Dallas home prices were 6.4 percent higher than in February 2017 in the monthly Standard & Poor’s/Case-Shiller Home Price Index.
The Dallas-area gain was just barely ahead of the nationwide average price increase of 6.3 percent in February from a year earlier.
The greatest home price gains were in Seattle (up 12.7 percent), Las Vegas (11.6 percent) and San Francisco (10.1 percent).
“Home prices continue to rise across the country,” S&P’s David M. Blitzer said in the report. “Year-over-year prices measured by the national index have increased continuously for the past 70 months, since May 2012.
“Over that time, the price increases averaged 6 percent per year,” Blitzer said. “With expectations for continued economic growth and further employment gains, the current run of rising prices is likely to continue.”
Dallas-area home price gains have been moderating since last year. Higher mortgage rates and a larger supply of houses on the market have slowed the appreciation rate in some North Texas neighborhoods. Still, North Texas’ median home price is at a record high of about $260,000.
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