From the Dallas Morning News ...
--- Dallas-Fort Worth home prices are still edging higher, according to a new federal estimate.
The latest nationwide home price report from the Office of Federal Housing Enterprise Oversight conflicts with private industry statistics that show first-quarter home prices fell slightly in North Texas. But federal researchers say that overall housing prices in the Dallas area rose by about 3.76 percent in the first quarter compared to year-earlier levels. Prices were up 0.98 percent from the fourth quarter.
In Fort Worth, prices were up 2.59 percent from a year ago and down 0.22% from the end of 2007.
The D-FW gains compare with a 3.1 percent nationwide decline.
Substantial numbers of unsold homes on the market in many U.S. cities are dragging down real estate values, the analysts said.
"The large overhang of real estate inventory awaiting sale continues to force price declines in many areas, but particularly in places that had seen very sharp appreciation in previous periods," OFHEO chief economist Patrick Lawler said in the report.
But in the D-FW area, housing inventories have actually declined slightly from a year ago, which has reduced downward pressure on prices. ---
Here is even more evidence as to the stability of our local market. We didn't get those big gains in pricing as seen nationally. Investors are coming in droves.
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