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07/01/2014

Area home prices up 8 percent in May, says CoreLogic report

Fort Worth-Arlington home prices rose 9 percent in May compared to a year ago, said CoreLogic market data firm said Tuesday.

On a month-over-month basis, prices rose 1.3 percent in May from April.

Nationwide, home prices rose 8 percent in May. And on a month-over-month basis, prices increased 1.4 percent in May over April, CoreLogic said.

Texas was among 10 states to see new home price highs, CoreLogic said.

“Home prices are continuing to climb across most of the country which has both positive and negative implications for the housing market," said Anand Nallathambi, CoreLogic’s president and CEO.  "While the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns. As we move ahead, a moderation in home price increases over the next twelve months should help cool things down a bit and keep the housing recovery going."

_ Sandra Baker

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