CoreLogic:
DFW homes prices have 9.3% annual gain
Apr
7, 2015 - Dallas Business Journal
Home
prices in the Dallas-Fort Worth area have seen a 9.3 percent annual gain in
February, reflecting
a strong demand for homes in the region, according to the latest
CoreLogic Home Price Index released Tuesday.
From
January to February, home prices in the Dallas area increased by 1.3 percent,
according to data from California-based CoreLogic (NYSE: CLGX). In January,
Dallas area home
prices increased 9.1 percent year-over-year.
Texas
posted a new home price record gain in February, with an increase of 8.5 percent
year-over-year. This is the highest jump in home prices year-over-year in the
Lone Star state since the inception of the CoreLogic Home Price Index, which
began in January 1976.
"This
is the hottest home price appreciation prior to the spring selling season in
nine years," said CoreLogic President and CEO Anand Nallathambi, in a prepared
statement. "Assuming a benign interest rate environment and continued strong
consumer confidence, we expect home prices to rise by an additional five percent
over the next 12 months."
Throughout
the country, low-end home prices increased 9.3 percent compared with 4.8 percent
for high end home prices. CoreLogic officials said the gap is three times the
average historical difference of price increases between the two home
types.
Other
states that reached all-time home price index gains in Febuary: Colorado (9.8
percent increase), New York (8.2 percent), North Dakota (7.7 percent), Wyoming
(8.4 percent) and Oklahoma (5.2 percent).
In
related news, CoreLogic is looking to relocate its Dallas-Fort Worth operations
and real estate sources say the group is homing
in on Billingsley Co.'s Cypress Waters project in the North Dallas
area.
