Dallas-Fort Worth home prices up 12.5% in Realtors’ survey

Dallas-Fort Worth was among the top markets in the country for home price gains in a second-quarter comparison.

D-FW prices were up 12.5 percent in the National Association of Realtors’ latest quarterly survey of 176 U.S. metropolitan areas. Prices were higher in 163 of the cities included in the report released Tuesday.

Nationwide, median home sales prices rose 8.2 percent to $229,400.

In the D-FW area at the end of June, the median price for homes sold by Realtors was $215,200, a new high for North Texas in the report.

Markets with the largest price gains included Palm Bay and Port St. Lucie, Fla., which both saw more than 20 percent increases in the median price from the second quarter of 2014.

Prices are rising fastest in cities with tight housing supplies.

“The slow rise in mortgage rates and stronger local job markets fueled demand throughout most of the country this spring,” Realtors economist Lawrence Yun said in the report. “While this led to a boost in sales paces not seen since before the downturn, overall supply failed to keep up and pushed prices higher in a majority of metro areas.”

In Texas, D-FW had the greatest home price increases at midyear.

Second-quarter prices were up 9.9 percent in Austin, 8.4 percent in Houston and 8.3 percent in San Antonio.

The Dallas area has been leading the country in home appreciation in other national comparisons by CoreLogic Inc.

Through the first seven months of 2015, sales prices for preowned single-family homes were 12 percent higher than in the same period last year, according to data from local real estate agents.

North Texas sales of preowned homes rose 14 percent in July to a record monthly high of 10,719 purchases.

Follow Steve Brown on Twitter at @SteveBrownDMN.

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