Home-price gains in the U.S. slowed in June as buyers pulled back from the market while listings started to climb.
A national measure of prices rose 5.4% from a year earlier, according to data from S&P CoreLogic Case-Shiller. That compares with a 5.9% annual increase in May.
Dallas-Fort Worth’s home prices rose 2.3% in June from last year.
The region once again reported one of the smallest increases in the 20 major metros Case-Shiller tracks. Only Portland (0.80%), Denver (1.90%) and Minneapolis (2%) reported lower rises.
The slow increases come after D-FW had some of the largest home price increases in the country for most of 2021 and 2022, with year-over-year price increases of more than 10% and 20% at times.
Annual price increases reached a record 31% in April 2022.
Case-Shiller reports transactions on a three-month moving average. June’s report consists of sales that closed in the April-to-June period.
More recent North Texas home sales data shows home prices may be declining. Median D-FW home prices dropped nearly 2% in July over last year, according to data from the Texas A&M Real Estate Research Center, the MetroTex Association of Realtors and the North Texas Real Estate Information Systems.
While listings are ticking up, house hunters are still struggling to find affordable properties. But thanks to high mortgage rates, there aren’t enough buyers in the market to create the level of competition…
