Dallas-area home prices rose just 1.2% in June

Dallas-area home prices are still ahead of where they were a year ago, but the rate of increase has dwindled from earlier in 2010.

In June, home prices in Dallas area were up just 1.2 percent from a year ago, according to the latest Standard & Poor's/Case-Shiller Home Price Index.

That's a fraction of the more than 4 percent year-over-year gain the area saw in January.

And the Dallas area's June increase was much less than the 4.2 percent nationwide gain, Case-Shiller found.

"We've been saying all along that we think the second half of the year will not look good – maybe even worse than it really is," said Dr. James Gaines, an economist with the Real Estate Center at Texas A&M University.

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