Home prices in Dallas-Fort Worth continue to rise.
The latest year-over-year home cost increase for the region is among the highest recorded for the monthly S&P CoreLogic Case Shiller Home Price Index Report.
Nationwide, home prices saw a 19.8% annual increase in February.
“The National Composite’s 19.8% year-over-year change for February was the third-highest reading in 35 years of history,” said Craig J. Lazzara, managing director at S&P DJI. “That level of price growth suggests broad strength in the housing market, which is exactly what we continue to observe. All 20 cities saw double-digit price increases for the 12 months ended in February, and price growth in all 20 cities accelerated relative to January’s report.”
“The macroeconomic environment is evolving rapidly and may not support extraordinary home price growth for much longer,” Lazzara added.
The S&P CoreLogic Case-Shiller U.S. National Home Price Index tracks the value of single-family housing within the U.S.
The median price in the Dallas-Fort Worth-Arlington area rose 21.81% year-over-year from $321,000 to $391,000 as of March 2022, per the Real Estate Center at Texas A&M University.
Dallas-Fort Worth also had just 0.7 months of inventory in the first quarter of this year with 6,865 homes available, according to Texas Realtors.