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Dallas Home Price Gains Are Highest In The Nation
The Dallas-area is still topping the rest of the country when it comes to home price increases.
Home prices rose by 10.5 percent in Dallas in May from 2014 levels, CoreLogic reports in its latest survey.
Nationwide prices were 6.3 percent higher in the same period.
“Mortgage rates on 30-year fixed-rate loans remained below 4 percent through May, helping to fuel home-purchase activity,” Frank Nothaft, chief economist for CoreLogic, said in the report. “Our homes-for-sale listing data shows that markets with high demand and limited supply, such as San Francisco, are recording double-digit appreciation rates over the past year.”
Dallas, Houston and Los Angeles had the biggest home price increases in May. The gains in Dallas were significantly larger than the other cities.
CoreLogic is predicting that nationwide home prices will rise by 5.1 percent in the next year.
North Texas home prices are currently at a record high and have increased by more than 30 percent since the worst of the recession.
The price gains in the Dallas-Fort Worth area are more than twice the long-term average for the region.
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