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DFW Homes Prices Have 93 Annual Gain
Dated: April 14 2015
CoreLogic: DFW homes prices have 9.3% annual gain
Apr 7, 2015, 12:33pm CDT
Home prices in the Dallas-Fort Worth continued to rise in February by 9.3 percent year-over-year, according to CoreLogic's Home Price Index. The home price gains reflect a strong housing market in North Texas.
Home prices in the Dallas-Fort Worth area have seen a 9.3 percent annual gain in February, reflecting a strong demand for homes in the region, according to the latest CoreLogic Home Price Index released Tuesday.
From January to February, home prices in the Dallas area increased by 1.3 percent, according to data from California-based CoreLogic (NYSE: CLGX). In January, Dallas area home prices increased 9.1 percent year-over-year.
Texas posted a new home price record gain in February, with an increase of 8.5 percent year-over-year. This is the highest jump in home prices year-over-year in the Lone Star state since the inception of the CoreLogic Home Price Index, which began in January 1976.
"This is the hottest home price appreciation prior to the spring selling season in nine years," said CoreLogic President and CEO Anand Nallathambi, in a prepared statement. "Assuming a benign interest rate environment and continued strong consumer confidence, we expect home prices to rise by an additional five percent over the next 12 months."
Throughout the country, low-end home prices increased 9.3 percent compared with 4.8 percent for high end home prices. CoreLogic officials said the gap is three times the average historical difference of price increases between the two home types.
Other states that reached all-time home price index gains in Febuary: Colorado (9.8 percent increase), New York (8.2 percent), North Dakota (7.7 percent), Wyoming (8.4 percent) and Oklahoma (5.2 percent).
By: Candace Carlisle
Staff Writer- Dallas Business Journal
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