Biz Beat Blog
Dallas-area home prices rose by almost 9.8 percent in January, continuing to grow faster than nationwide rates.
CoreLogic said Tuesday that U.S. home prices were 6.9 percent higher in January than they were at the start of 2015.
“Heading into the spring buying season, home prices continue to rise across much of the country,” said Anand Nallathambi, president and CEO of CoreLogic. “With rates staying low for now and continued solid job and income growth, the spring buying season is shaping up to be a good one.”
Dallas-area home price increases couldn’t keep up with January price growth in Denver (11.8 percent) and San Francisco (11.6 percent).
Prices in the Houston area were up 5.7 percent from January 2015 – still rising but at less the nationwide rate. Houston’s housing market has slowed since oil price declines have caused thousands of energy sector layoffs.
CoreLogic is forecasting that nationwide home prices will rise by 5.5 percent in the year ahead.
Analysts expect that North Texas’ near double-digit home price gains will continue as long as employment growth in the area remains strong.