The big real estate news this morning, all over the country, is the latest Case-Shiller report on median home prices, which saw a double-digit dip in January from a year earlier. The biggest price drops were in Las Vegas and Miami. (All those lovely high rises you see in CSI: Miami? They’re empty.) Only one of the 20 cities surveyed showed an increase, Charlotte, N.C., and it was tiny. Dallas prices dropped about 3 percent.
The silver lining for us? Steve Brown’s breakdown at DallasNews.com shows that the median price in Lakewood/East Dallas (area No. 12 on the map) actually rose 11 percent, although the number of sales was down 6 percent. The areas worst hit were almost all south of the river, and in Denton County.
Remember the days when we used to complain that Dallas prices weren’t showing the incredible growth seen on the coasts? We should probably be grateful for that.
You can read the Standard & Poor’s report on the price fall here, and Bloomberg News has a cool national graphic on how all 20 cities fared. Find it here. Just click on the graphics icon to the right.
