Survey Shows Dallas-Area Home Prices Gained Nearly 2%

By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com

http://www.dallasnews.com/sharedcontent/dws/classifieds/news/homecenter/realestate/stories/032409dnbuscorelogic.63aa4bea.html

Most Texas home markets continued to eke out tiny increases in home prices in early 2009, according to a new report by First American CoreLogic.

Texas home prices were up by just less than 2 percent in the California-based housing analyst’s latest survey released Monday. While Texas prices rose, nationwide home prices in January fell by 11.6 percent compared to a year ago to the lowest level in almost five years.

First American CoreLogic’s recent reports on the Dallas-Fort Worth home market have been in contrast to most other industry measures, which show residential values have fallen slightly here.

The latest report says that home prices in the Dallas area were up 1.54 percent from a year earlier in January.

However, local statistics from home sales indicate median prices were down 6 percent during the same period.

The Dallas area had the third best home price performance in CoreLogic’s new report, behind Austin and Houston.

It is one of only four U.S. housing markets showing a price increase.

BIGGEST PRICE DECLINES AND GAINS

Based on estimated change in values in January from a year earlier.

BIGGEST DECLINES

  • Riverside-San Bernardino-Ontario Calif. -29.62%
  • Miami-Miami Beach-Kendall Fla. -28.79%
  • Las Vegas-Paradise Nev. -28.41%
  • Oakland-Fremont-Hayward Calif. -27.73%
GAINS
  • Austin-Round Rock – 3.92%
  • Houston-Sugar Land-Baytown – 3.58%
  • Dallas-Plano-Irving – 1.54%
  • Denver-Aurora-Broomfield Colo. – 0.97%

SOURCE: First American CoreLogic

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