The venerable Case-Shiller report that tracks pre-owned home sales, not new builders homes or subdivisions, puts Dallas near the top of the list of cities with the biggest home price gains. Which is, of course, impressive.
Standard & Poor’s Case-Shiller home price index says Dallas-area home prices were up 9 percent from February of 2015.
Dallas ranked fourth, behind Portland, Seattle and Denver as the the cities with the largest year-over-year price gains in the closely watched Wall Street housing metric report.
Nationwide, Dallas home prices were 5.3 percent higher than a year ago.
But February numbers slipped slightly from 9.2 percent in January.
“Home prices continue to rise twice as fast as inflation, but the pace is easing off in the most recent numbers,” S&P’s David M. Blitzer said in the report. “Rising prices are a concern in many parts of the country.
“The visible supply of homes on the market is low at 4.8 months in the last report,” he said. “Homeowners looking to sell their house and trade up to a larger house or a more desirable location are concerned with finding that new house.”
Home prices were higher in all 20 major markets included in Case-Shiller’s survey.
The largest gains were found in Portland (11.9 percent), Seattle (11 percent) and Denver (9.7 percent).
In fourth place, Dallas-area home prices are now at record levels, almost 24 percent higher than before the recession and housing market crash of 2009. (more…)