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07/02/2013

Fort Worth-Arlington home prices rise in May

 Fort Worth-Arlington area home prices rose 9.1 percent in May compared to a year ago, according to CoreLogic’s latest home price index.

When sales of distressed properties are included, sales prices locally still rose 4.7 percent in May.

On a month-over-month basis, May prices excluding distressed sales increased 1.6 percent from April, CoreLogic said.

And, prices in May increased 1.1 percent in May over April when distressed sales are included.

Statewide, home prices rose 10.1 percent when excluding distressed sales, and were up 8.5 percent when including distressed sales.

Nationwide, excluding distressed sales, home prices increased 11.6 percent in May on a year-over-year basis.

And, including distressed sales, prices rose 12.2 percent in May, the biggest year-over-year increase since February 2006, CoreLogic said.

“Home price appreciation, particularly in much of the western half of the U.S., is increasing at a torrid pace,” said Anand Nallathambi, CoreLogic CEO. “Across the country, pent up demand and continued low interest rates are fueling strong demand fro a limited inventory of properties.”

Distressed sales include short sales and real estate owned transactions.

_ Sandra Baker

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