Dallas area home prices jumped 8.1 percent in the latest nationwide comparison. Year-over-year price gains for North Texas in December were among the highest in the country in the Standard & Poor's Case-Shiller Home Price Index released Tuesday. "Home prices continue to advance, with the national average rising faster than at any time in the last 2 1/2 years," S&P's David M. Blitzer said in the report. "With all 20 cities seeing prices rise over the last year, questions about whether this is a normal housing market or if prices could be heading for a fall are natural. "Home prices are rising, but the speed is not alarming." "One factor behind rising home prices is low inventory," Blitzer said. "While sales of existing single-family homes passed 5 million units at annual rates in January, the highest since 2007, the inventory of homes for sale remains quite low with a 3.6-month supply. The Dallas area has only a 2 month inventory supply.
- Dallas Morning News, March 3, 2017