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12/31/2013

Dallas-Fort Worth home prices up 9.7 percent in October in latest Case Shiller report

Dallas-Fort Worth home prices rose 9.7 percent in October from a year ago, according to the latest S&P/Case Shiller Home Price Indices report released today.

Nationwide, home prices were up 13.6 percent, the highest year-over-year gain since February 2006, the report said.

“Home prices increased again in October,” said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a statement. “However, monthly numbers show we are living on borrowed time wand the boom is fading.”

Dallas-Fort Worth home price increase in October was the highest since 2000, the report said.

However, home prices fell 0.1 percent in October from September in Dallas-Fort Worth, the report said. The area was among 10 cities that saw slight declines, while 10 other cities in the index posted positive monthly gains.

“The key economic question facing housing is the Fed’s future course to scale back quantitative easing and how this will affect mortgage rates,” Blitzer said. “Other housing data paint a mixed picture suggesting that we may be close to the peak gain in prices. However, other economic data point to somewhat faster growth in the new year. Many forecasts for home prices point to single digit growth in 2014.”

­_ Sandra Baker

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