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05/07/2013

Fort Worth-Arlington home prices rise nearly 11 percent in March

Fort Worth-Arlington home prices rose 10.9 percent in March compared to a year ago, according the latest monthly CoreLogic Home Price Index released Tuesday.

The prices don't include the sale of distressed properties.

When distressed sales are included, home prices rose 5.8 percent compared to March 2012.

On a month-over-month basis, excluding distressed sales, local home prices increased 3.2 percent in March compared to February.

Including distressed sales, month-over-month prices increased 1.7 percent, CoreLogic said.

Nationwide, excluding distressed sales, home prices increased 10.7 percent in March, and including distressed sales, home prices rose 10.5 percent. The change represents the biggest year-over-year increase since March 2006, CoreLogic said.

March was also the 13th consecutive monthly increase in home prices nationally, CoreLogic said.

"For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year-over-year," said Mark Fleming, CoreLogic's chief economist in a statement. "The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season."

Distressed sales include short sales and real estate owned transactions.

CoreLogic said it expects home prices to also rise in April.

_ Sandra Baker

 

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