Austin and Fort Worth Lead in Home Price Gains
Austin and Fort Worth had the biggest home price gains in the latest comparison of Texas housing values. Austin prices were 4.8% higher than a year ago, and Fort Worth home prices rose 4.5% in the November survey by CoreLogic.
Dallas-area home prices were 2.8% higher than in November 2018. Nationwide home costs were 3.7% higher year-over-year in the just-released comparison. Home price gains in many markets across the U.S. increased in the final months of 2019.
“The latest U.S. index shows that the slowdown in home prices we saw in early 2019 ended by late summer,” Frank Nothaft, chief economist at CoreLogic, said in the report. “Growth in the U.S. index quickened in November and posted the largest 12-month gain since February. “The decline in mortgage rates, down more than 1 percentage point for fixed-rate loans from November 2018, has supported a rise in sales activity and home prices.”
Austin and Fort Worth had some of the biggest big-city home price gains in the country. Prices rose 3.1% year-over-year in Houston and were 3.6% higher in the San Antonio area. For all of Texas, prices rose 3.3% from a year ago.
CoreLogic analysts predict that nationwide home values will grow more than 5% in the year ahead...
