When it comes to home price gains, Texas is no longer outpacing the rest of the nation.
Instead, Texas home prices rose at about half the national rate in May, according to the latest estimate by CoreLogic Inc.
May home prices in Texas were 1.5 percent higher than a year earlier, while the nationwide average was 2.9 percent, the California-based research firm said Tuesday.
Dallas-area prices rose by the same amount – 1.5 percent.
While Texas housing inched up, the prices in some costal markets jumped: 7.9 percent in California, 6.8 percent in Virginia and 5.7 percent in Massachusetts.
The states that are seeing higher price gains all suffered steep declines in residential values in recent years. Texas saw only modest home price declines during that time.
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