DALLAS (Dallas Morning News) – Dallas was one of three major U.S. cities that saw home prices soar by more than 8 percent in January, according to the latest Standard & Poor’s/Case-Shiller Home Price Index.
Dallas-area prices were 8.1 percent higher than in January 2014. North Texas home prices are now at a record high.
Nationwide, prices were up 4.5 percent. The other two cities that made a strong showing were Denver and Miami.
"The combination of low interest rates and strong consumer confidence based on solid job growth, cheap oil and low inflation continue to support further increases in home prices," said S&P’s David M. Blitzer in the report. "Regional patterns in recent months continue: strength in the West and Southwest paced by Denver and Dallas."
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