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03/05/2013

Fort Worth-Arlington home prices rise nearly 4 percent in January

Fort Worth-Arlington home prices increased by nearly 4 percent in January from a year ago, according to CoreLogic’s Home Price Index released Tuesday.

Nationwide, home prices increased on a year-over-year basis by 9.7 percent, which is the largest increase since April 2006, CoreLogic said.

It is also the 11th straight month of home price increases, the residential property information firm said.

"The HPI showed strong growth during the typically slow winter season," said Mark Fleming, CoreLogic’s chief economist. "With these gains, the housing market is poised to enter the spring selling season on sound footing."

CoreLogic said February home prices are expected to rise by 9.7 percent on a year-over-year basis. Excluding distressed sales, February home prices could rise as much as 11.3 percent year-over-year, CoreLogic said.

In Fort Worth-Arlington, home prices, including distressed sales, increased by 3.6 percent in January 2013 compared to January 2012. On a month-over-month basis, home prices, including distressed sales, decreased by 1.3 percent in January 2013 compared to December 2012, CoreLogic said.

Excluding distressed sales, year-over-year prices increased by 6.4 percent in January 2013 compared to January 2012. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI indicates home prices increased by 1.6 percent in January 2013 compared to December 2012.

_ Sandra Baker

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