DALLAS (Dallas Morning News) – We told you last month that May was a record-breaking month for North Texas existing home sales and prices. Now the Standard & Poor’s/Case-Shiller Home Price Index is backing that up.
According to S&P’s latest monthly survey, area home prices in May had their largest year-over-year gain since the market intelligence firm began tracking Dallas home prices 13 years ago.
Prices were up 7.6 percent from 2012 levels. The nationwide increase was 12.2 percent.
“Dallas and Denver reached record levels surpassing their prefinancial crisis peaks set in June 2007 and August 2006,” the Case-Shiller report said.
The Case-Shiller Index value for Dallas is now about 1 percent higher than at the previous peak in June 2007.