The latest Standard & Poor’s/Case-Shiller Home Price Index shows area home prices were up 10 percent last month from a year earlier — a record high for the city. Prices were up 1.2 percent from February.
March marked the fourth month in a row that home prices increased at a double-digit rate from the previous year. Prices are now 6 percent higher than they were at the previous peak of the market in 2007.
Nationally, prices were up 10.3 percent from last year, but they’re still almost 20 percent below where they were pre-recession.
The index tracks the prices of specific pre-owned, single-family homes in 20 metropolitan areas over time. It does not include condominiums and townhouses.
Source: Dallas Morning News