According to the Dallas Morning News and Metrotex Association of Realtors, Dallas, preowned home prices in the Dallas area ended 2014 with a 7.5 percent gain from 2013, according to the latest Standard & Poor’s/Case-Shiller Home Price Index.
“As long as we have a tight sellers’ market, it’s going to be in that area,” said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University. “The good news is it’s not 12 or 15 percent.
“We can live with this for a while.”
The Dallas-area price rise was well above the 4.6 percent nationwide appreciation rate in December.
Dallas had the fourth-highest increase among the 20 major markets that Case-Shiller surveys for its monthly report.
“San Francisco and Miami were the strongest,” he said. “Dallas, Denver, Las Vegas and Atlanta also experienced solid gains.”
Dallas-area home prices are now almost 13 percent higher than they were before the recession and have risen more than 30 percent since early 2012.
The median price of homes sold in North Texas by real estate agents through their multiple listing service was 11 percent higher in December from a year earlier.
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