DFW housing market suffers from price growthDFW housing market suffers from price growthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=12952015-04-13T15:07:00Z2015-04-13T00:00:00Z

DALLAS-FORT WORTH - The North Texas housing market is on the list of the country’s least healthy housing markets, according to a new report from Nationwide Insurance.

The forward-looking ranking compares housing market conditions in more than 370 U.S. markets.

“Looking at Dallas, Houston and Austin, all of them are in the neutral range in our performance ranking,” said Nationwide economist David Berson. “The big negative is house price growth vs. income growth.”

During the first quarter 2015, median home sales prices in North Texas are 9 percent higher than where they were in early 2014. That rate is twice the long-term average residential value growth rate for the area.

“What we are seeing in Texas to a degree in other places is there is not much supply for sale,” Berson said. “It’s time for the builders to build more houses.”

Home construction in the Dallas-Fort Worth area is still about half what it was before the recession.

In first quarter 2015, builders started almost 25 percent fewer houses than in 1Q 2014 due to wet weather and construction constraints.

Dallas Morning News
Dallas-Fort Worth-Arlington
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