December 2nd, 2014 4:41 PM by AllenBrothers Realtors
Texas Housing Prices Opposite From National Curve
The Texas housing market has done nothing but exceed
expectations in 2014. In Dallas, September home prices rose 7.4% compared to
the same period last year and 0.3% from the previous month, according to the
latest S&P Case-Shiller Home Price Indices.
For some reason S&P does not keep record of Houston home
prices, but Dallas numbers are very similar to its rival coastal city to the
south. Dallas and Texas home prices are very different from the rest of the
country, where the price of homes slowed down almost everywhere else as fall
arrived. Elsewhere only Charlotte, NC saw an increase in home prices.
The Houston market has performed in a manner opposite to
that of the rest of the country, which is typical. In the rest of the nation,
the 10- and 20-City Composites are up 4.8 and 4.9 percent compared to the same
period last year respectively, which is down from August, in which the yearly
gains were 5.5 and 5.6 percent respectively. This is the smallest annual
increase in a couple of years. Also, the National Case-Shiller Index went down
0.1% from August to September, which was the first monthly decrease for the
index since November 2013. Eighteen of the 20 cities tracked by Standard and
Poor’s had slower annual housing increases from August to September. 2014 housing prices as of September are
averaging 5% below what they were in September 2013, but still well above what
they were in 2010 and 2011, according to the Wall Street Journal.
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