Dallas-area home price gains continued to lag national increases in the latest housing market update. Dallas home prices were up 2.7% in June from a year ago, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. Nationwide prices were 3.1% higher during the same period. Dallas-area home price increases are now at the lowest levels in seven years in the closely watched Case-Shiller study. "Home price gains continue to trend down but may be leveling off to a sustainable level," S&P's Philip Murphy said in the report. "While housing has clearly cooled off from 2018, home price gains in most cities remain positive in low single-digits.
The rate of home price growth in the Dallas area is half what it was a year ago. Even though Dallas-area home prices are rising more slowly, they're still at record levels and are more than 50% ahead of where they were before the recession. While lower mortgage rates have fueled an increase in home sales in recent months, there's no sign that housing appreciation will surge.
- Dallas Morning News, August 28, 2019