Dallas area home price losses ballooned in November – down 4.2 percent from a year earlier. The decline was the largest for the Dallas area since early 2009, according to the latest Standard & Poor’s/Case-Shiller Home Price Index report. It was the fifth month in row that home prices for Dallas dropped in the closely-watched housing market indicator. Dallas’ price decrease was significantly worse than the overall 1.6 percent year-over-year decline Case-Shiller reported for all of the 20 U.S. markets in the index. “With these numbers, more analysts will be calling for a double dip in home prices,” Standard & Poor’s David Blitzer said Tuesday in the report. The slide in Dallas-area home prices has wiped out all the gains the market made in late 2009 and early 2010 when residential values were moving higher. Since then, the number of home sales in North Texas and nationwide has fallen sharply and the supply of distressed houses – mostly foreclosures – on the market has grown.
Tuesday, January 25, 2011
Home prices in Dallas-Fort Worth see largest drop since early 2009
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