Tampa, Fla., Seattle and Dallas-Fort Worth had the biggest home price gains in the country in February, according to a report by Zillow. Median home sales prices in D-FW rose 11.1 percent last month compared with year-ago levels, Zillow said in its latest survey. The real estate marketing firm said that year-over-year prices were 11.6 percent higher in Tampa and rose 11.2 percent in Seattle. Prices rose 6.9 percent nationwide from February 2016 levels.
"Low inventory, strong demand and tough competition will be the defining characteristics of this year's home shopping season," Svenja Gudell, Zillow chief economist, said in the report. "Even though interest rates are rising, buyers are eager to start their home search. If you're a prospective buyer about to enter the market, keep in mind that it's rare to get the first home you make an offer on, and homes in particularly hot markets frequently sell for over asking price.
D-FW median home prices in February were $203,400 — higher than the $195,700 nationwide median price. During the first two months of 2017, median prices of North Texas houses sold by real estate agents jumped 14 percent compared with the same period last year.
- Dallas Morning News, March 29, 2017