News

Home Prices Down (Slightly) in Dallas; So Too is Housing Stock

Bust out the Excel for a peek at the May S&P/Case-Shiller home-price index, out today; or just take away the takeaway, which is: Dallas's home prices are down 3.1 percent since May 2007, which is nothing compared to the national average of a 17 percent plunge spread amongst 10 major cities. And, Dallas's prices are up one percent over April's results -- and a good morning to ya. Also from The Wall Street Journal, this news concerning the number of houses clogging the market: Out of 28 cities full of stock, 19 have seen a drop in back catalog over the past year -- including Dallas, which is why we mention it. And it's a decent decline too: 9.3 percent, according to this fun-for-glancing-at WSJ chart that considers the "overall strength of the [Dallas] metro area" as "moderate" and classifies our "employment outlook" as "strong." --Robert Wilonsky

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Robert Wilonsky
Contact: Robert Wilonsky