Home prices in the Metroplex increased 7.1 percent year over year in February, according to new data released by the S&P/Case-Shiller Home Price Indices.
Agents at Briggs Freeman Sotheby’s International Realty reported continued strength in the Metroplex real estate market, noting that well-priced homes in good condition are selling well. For the last week of April, BFSIR posted deals representing $56 million.
Metroplex home prices have now been higher for a straight year in the closely-watched housing market measure, the Dallas Morning News reports.
S&P/Case-Shiller tracks homes prices in 20 key metropolitan areas. Good news came from around the country: Average home prices increased 8.6 percent and 9.3 percent for the 10- and 20-city composites in the 12 months ending in February 2013. The 10- and 20-city Composites rose 0.4 percent and 0.3 percent from January to February.
The Dallas-Fort Worth Metroplex had the highest annual growth rates in the history of the indices since 2001.
“Home prices continue to show solid increases across all 20 cities,” said David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. “The 10- and 20-city composites recorded their highest annual growth rates since May 2006; seasonally adjusted monthly data show all 20 cities saw higher prices for two months in a row – the last time that happened was in early 2005.
“Despite some recent mixed economic reports for March, housing continues to be one of the brighter spots in the economy.”
As of February 2013, average home prices across the United States are back to their autumn 2003 levels for both the 10-city and 20-city composites. The recovery from the early 2012 lows is 8.7 percent and 9.3 percent, respectively.
In February 2013, the number of cities that posted positive monthly changes increased; the Dallas-Fort Worth Metroplex, Boston, New York, Portland and San Diego are now among the metropolitan areas posting month-over-month gains.
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