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05/06/2014

Fort Worth-Arlington home prices rise 9.4 percent in March

Fort Worth-Arlington home prices were up 9.4 percent in March from a year ago, slightly below the national home price increase of 11.1 percent, according to CoreLogic’s latest home price index released today.

Locally, on a month-over-month basis, home prices were up 1.9 percent in March, the index said.

CoreLogic, a real estate information and analytics provider, said the national increase in March represents 25 month of consecutive year-over-year increases.

Low inventory of new and used homes has caused home prices to rise. Housing economists now, however, fear rising mortgage rates will slow sales.

“Home prices continue to rise across the nation, but affordability, tight credit and supply concerns are becoming an increasing drag on purchase market activity," said Anand Nallathambi, president and CEO of CoreLogic in a statement.  "In many markets – especially major metro areas like Los Angeles, Atlanta and New York – home prices are being driven up at double-digit rates fueled by a lack of inventory and record levels of cash purchases."

_ Sandra Baker

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