The Federal Housing Finance Agency’s latest Home Price Index (HPI) showed Texas prices are up 7.3% when compared to the same period last year. However Texas is lagging behind the U.S. in price appreciation.
Nationally, prices increased 8.4 percent during the same period while Texas home prices increased 7.13 percent during the year ending in September according to the third quarter 2013 HPI, which was released late last week,.
The price appreciation in Texas being below the national average doesn’t tell the whole story. Texas didn’t have the severe crash in home prices that other states had during the recent recession.
Here are how home price increases look for the major metro areas of Texas. Houston-The Woodlands-Sugar Land had the largest one-year price increase of the state’s major metros at 10.31 percent. Next Texas metro area was Austin-Round Rock at 10.08 percent followed by Dallas-Plano-Irving at 9.73 percent, San Antonio-New Braunfels at 7.67 percent, and Fort Worth-Arlington at 5.88 percent.
Are you curious about home prices in your neighborhood? Go to our Market Insider webpage and enter your zip code to get an overview of the real estate market in your area. Feel free to contact us on our website here or you can call/text us at 817-330-9235.