Dallas was among the top-three metropolitan areas for annual home price acceleration, according to May numbers from the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index (which also uses U.S. census division data).
Our city reported a whopping 30.8% increase in home prices, year over year. That is compared to a 20-city composite gain of 20.5% for the same period.
Tampa and Miami were the only cities that reported higher yearly gains than Dallas.
Month-over-month, home prices are increasing more slowly than they were last year at this time, but the researchers say that “despite this deceleration, growth rates are still extremely robust.”
The economists say that several factors could lead to a near-future home-price-growth plateau, but that doesn’t immediately improve the outlook for homebuyers.
“We’ve noted previously that mortgage financing has become more expensive as the Federal Reserve ratchets up interest rates, a process that was ongoing as our May data were gathered. Accordingly, a more-challenging macroeconomic environment may not support extraordinary home price growth for much longer.”
Lakewood/East Dallas home prices (this, from Zillow’s report):
The typical home value of homes in 75214 is $780,500. This value is seasonally adjusted and only includes the middle price tier of homes. 75214 home values have gone up 24.2% over the past year.
The typical home value of homes in 75218 is $554,396. This value is seasonally adjusted and only includes the middle price tier of homes. 75218 home values have gone up 23.8% over the past year.
The typical home value of homes in 75228 is $313,056. This value is seasonally adjusted and only includes the middle price tier of homes. 75228 home values have gone up 23.4% over the past year.
The typical home value of homes in 75206 is $604,642. This value is seasonally adjusted and only includes the middle price tier of homes. 75206 home values have gone up 23.2% over the past year.
