Steve Brown Email email@example.com
Published: December 30, 2014 8:21 am
Dallas had one of the biggest home price increases in the country.
The Dallas area is among the top five cities in the country for home prices increases in the latest Standard & Poor’s/Case-Shiller Home Price Index.
Dallas prices rose 7.6 percent in October from the same month in 2013, the new report shows.
Only Miami, San Francisco and Las Vegas had great home price gains.
And Dallas’ increase was significantly ahead of the 4.5 percent home price rise in the 20 markets Case-Shiller surveyed.
Dallas’ October rate of home price growth was slightly ahead of the 7.4 percent annual increase in September, according to Case-Shiller. Dallas was one of eight U.S. markets that saw bigger price gains in October.
“We are seeing hints that prices could end 2014 on a strong note and accelerate into 2015,” S&P’s David M. Blitzer said in the report. “Two months ago, all 20 cities were experiencing weakening annual price increases.
“This time, 12 cities had weaker annual price growth, but eight saw the pace of price gains pick up,” he said. “Seasonally adjusted, all 20 cities had higher prices than a month ago.”
Dallas-area home prices are now about 15 percent higher than they were before the recession and at a record level in the Case-Shiller index.
Case-Shiller’s index tracks over time the prices of specific single-family homes located in each metropolitan area. The index survey does not include condominiums and townhouses. It only covers pre-owned properties — not new construction.