Dallas-area home price growth

Dallas-area home price growth

Dallas-area home prices were 6.9 percent higher at the end of 2017 compared with a year earlier, according to a new report by CoreLogic.

Dallas’ year-over-year home price gain was slightly ahead of the 6.6 percent nationwide price increase from December 2016.

“Home prices continue to rise as a result of aggressive monetary policy, the economic and jobs recovery and a lack of housing stock,” Frank Martell, president and CEO of CoreLogic, said in the report. “The largest price gains during 2017 were in five Western states: California, Idaho, Nevada, Utah and Washington.

“As home prices and the cost of originating loans rise, affordability continues to erode, making it more challenging for both first-time buyers and moderate-income families to buy,” Martell said. “At this point, we estimate that more than one-third of the 100 largest metropolitan areas are overvalued.”

Read More via DallasNews.com

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