The Dallas-area continues to see gains in home prices in the closely-watched Standard & Poor’s/Case-Shiller Home Price Index.Dallas-area home prices were up 6.8 percent in March from a year ago in the latest monthly home price comparison.
Homes prices were up 7.1 percent in February and 7 percent in January from a year earlier.Dallas-area home prices are now only about 3 percent below where they were before the recession, according to Case-Shiller’s numbers. Prices in the Dallas area have been rising on a year-to-year basis for the past 13 months.
Nationwide, prices were 10.9 percent higher than in March 2012 – the biggest increase in the index since 2006.“Home prices in all 20 cities posted annual gains for the third month in a row,” says Standard & Poor’s David M. Blitzer. “Twelve of the 20 saw prices rise at double-digit annual growth.
”The largest increase among the 20 cities Case-Shiller tracks was Phoenix with a 22.5 percent home price gain from March 2012. San Francisco prices were up 22.2 percent and Las Vegas had a 20.6 percent increase.
The Dallas area never saw the decline in prices those three cities experienced.Given the continuing increase in home values and the markedly decreased competition for sellers, now is an ideal time to offer your North Texas property for sale!