Dallas-Fort Worth home prices increased for the fourth consecutive month in May, continuing a turnaround of prices back toward June 2022′s peak.
. Local prices in May were still down 3.8% from a year before, along with nine other cities included in the Case-Shiller index.“While the annual decline reflects price drops that occurred in 2022, recent above-average price gains indicate an inflection ahead,” said CoreLogic chief economist Selma Hepp.
The Case-Shiller index is a three-month moving average that compares sales-price changes of specific properties over time. While it is a couple of months behind current market conditions, the index’s price estimate is considered more accurate than data from agents, which can be influenced by the type of properties that are selling each month.
“Regional differences continue to be striking,” Lazzara said, noting that it has been five years since a cold-weather city saw the biggest change year over year. Since May 2018, Las Vegas, Phoenix, Tampa and Miami had been the top-ranked cities.
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