New Survey: North Texas Home Prices Show Solid Gains


Courtesy of Ebby Halliday’s Blog:

Home prices in North Texas rose by 4.5 percent in October from a year earlier, according to a just-released survey from CoreLogic, a leading provider of information, analytics and business services.

When distressed home sales are excluded, North Texas’ price increase is much stronger – up 7.2 percent from October 2011. Distressed sales include short sales and real estate owned (REO) transactions.

Nationwide, home prices, including distressed sales, increased on a year-over-year basis by 6.3 percent in October 2012 compared to October 2011. This change represents the largest increase since June 2006 and the eighth-consecutive increase in home prices nationally on a year-over-year basis.

The HPI analysis shows that all but five states are experiencing year-over-year price gains. Excluding distressed sales, home prices nationwide also increased on a year-over-year basis by 5.8 percent in October 2012 compared to October 2011.

The CoreLogic Pending HPI indicates that November 2012 home prices, including distressed sales, are expected to rise by 7.1 percent on a year-over-year basis from November 2011

“We are seeing an ongoing strengthening of the residential housing market,” says Anand Nallathambi, president and CEO of CoreLogic. “Reduced inventories and improving buyer demand are contributing to stability and growth in home prices, which is essential to the long-term health of the housing market and the broader economy.”

Sales volume at The Ebby Halliday Companies in October was up an astounding 36 percent over the same period in 2011, setting an all-time record for the month and marking 10 consecutive months of sales increases when compared to the previous year.
“That’s real growth, and a strong indication of increasing stability and improvement in the local real estate market for 2013 and beyond,” says Mary Frances Burleson, president and CEO of Ebby Halliday Real Estate Inc.

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