Dallas-area home prices rose at the slowest rate in 10 months in the latest nationwide survey.
Dallas prices were up 8.6 percent in May from a year ago in the just-released Standard & Poor’s/Case-Shiller Home Price Index.
Nationwide prices rose 9.4 percent from May 2013 levels.
“Home prices rose at their slowest pace since February of last year,” S&P’s David M. Blitzer said in the report. “Housing has been turning in mixed economic numbers in the last few months.
“Prices and sales of existing homes have shown improvement while construction and sales of new homes continue to lag.”
The lower home price gains have been predicted by analysts who see some moderation after many months of double-digit price increases.
Eighteen of the 20 cities Case-Shiller survey’s had lower gains in May than in April.
Dallas’ increase was the smallest since July of last year. Earlier this year local home prices were growing at more than 10 percent from a year ago.
The largest annual gains in May were in Las Vegas, 16.9 percent, and San Francisco, 15.4 percent.
The smallest increase was in Cleveland, 2.4 percent.
Dallas-area home prices are now at a record level in the closely-watched Case-Shiller report – up more than 9 percent from where they were before the recession.
And prices here are almost 25 percent ahead of where they were at the worst of the economic downturn in 2009.
Dallas-area prices have been rising in the Case-Shiller study for more than 24 months.
