There’s good news for Dallas-area homebuyers. Home prices in the region are up just slightly over a year ago, at least according to the recently released Case-Shiller report.
With a gain of just 2.7-percent, it makes for the lowest appreciation in home prices for Dallas in seven years. Looking nationwide, prices year-over-year are up about 3.5-percent.
A trend in more moderate price gains first began about a year ago. Before that, many of the nation’s major housing markets were seeing double-digit percentage gains.
Analysts say it makes sense as the markets continue to normalize. Despite low mortgage interest rates, buyers are still searching for affordability. While listings are up about 20-percent right now in the Dallas-area over last year, home sales are only up about one-percent.
Looking across the nation, the largest gains in home prices are in Las Vegas and in Phoenix. On the other hand, Seattle home prices remain unchanged from last year. Before that they had been rising at about 13-percent a year.