Tuesday, March 26, 2013

DFW homes see prices rise for 11th straight month

Standard and Poor's Case-Shiller Home Price Index for January 2013 has just been released and the good news for the DFW real estate market continues to come in. According to Case-Shiller, DFW home prices were 7% higher in January 2013 than they were in January of 2012. Lack of inventory and great interest rates have helped contribute to the rise in home prices in the Dallas Ft. Worth market area. 

Nationally, the news is very positive. In the 20 cities that Case-Shiller studies home prices were up an average of 8.1% over the last 12 months. Home prices across the nation are back to their fall 2003 prices, a great sign that the housing market has truly started to recover. Foreclosure filings continue to be down over 25% from a year ago and housing starts saw nice rises in the month of February 2013. 

Standard and Poor's Case-Shiller Report for January 2013

Metropolitan AreaChangeChange
Dec. 2012-Jan. 2012-
Jan. 2013Jan. 2013
Charlotte, N.C.0.2%6.0%
Las Vegas1.6%15.3%
Los Angeles0.9%12.1%
New York0.1%0.6%
Portland, Ore.-0.4%8.3%
San Diego-0.6%9.8%
San Francisco0.1%17.5%
Tampa, Fla.0.9%8.9%
Washington, D.C.-0.7%5.9%
20-city composite0.1%8.1%
Source: S&P Dow Jones Indices and Fiserv

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