Report: DFW home prices up 6.7 percent in 3Q 2014

DALLAS-FORT WORTH – DFW home prices are up 6.7 percent in a new third quarter 2014 nationwide comparison from the National Association of Realtors.

The DFW price gain was significantly larger than the 4.9 percent average increase in the 172 U.S. markets surveyed.

DFW median home sales prices were at an all-time high of $193,500, according to the report.

North Texas home price increases this year have continued at a high level, while residential appreciation in many areas of the country has slowed.

A year ago, U.S. median home prices were up at an annual rate of 12.5 percent and DFW prices were almost 10 percent ahead of where they were in 3Q 2012.

More than a dozen U.S. home markets saw annual home price increases of 10 percent or more during 3Q 2014, with the largest gains in Daytona Beach, Fla. (25.2 percent) and Toledo, Ohio (22.3 percent).

In Texas, the greatest big-city price gains were in Austin (9.3 percent) and Houston (8.5 percent).

The supply of houses for sale in North Texas remains near all-time lows. Currently, there is only a 2.5-month inventory of homes listed for sale with real estate agents in North Texas.

That compares with a nationwide average supply during 3Q 2014 of 5.4 months.