San Antonio still rising above the housing fold, report finds

July 2, 2012

Home prices in San Antonio rose .6 percent
between March 2012and April 2012, according to the latest analysis by Oxford, Miss.-based real-estate information technology company FNC Inc.

Home prices on the national front were up .6 percent on a month-over-month basis as well, FNC reports. The April figures mark the second month of modest price increases — a sign that “home prices are strengthening as rising demand and limited inventory continue to characterize many U.S. markets,” FNC states.

But many housing markets still have a ways to go, according to the latest FNC analysis. Looking at pricing trends for 30 of the country’s largest MSAs, only eight of those markets saw home prices increase between April 2011 and 2012. San Antonio was one of those markets — reporting a 4.2 percent increase in home prices on a year-over-year basis.

Another Texas city, Dallas, made the list of eight as well — reporting a 2 percent increase in home prices between April 2011 and 2012.

As part of its analysis, FNC also tracks how home prices have risen or have fallen since the peak of the market back in July 2006.

Only two cities — San Antonio and Houston — have gained ground.

As of April 2012, home prices in San Antonio and Houston were up 5 percent and 5.8 percent, respectively.

Meanwhile, in seven cities, home prices are down more than 50 percent from the peak — the biggest losses being in Las Vegas, where home prices are down 61.8 percent from the July 2006 peak; Orlando, 58.6 percent decline; and Phoenix and Riverside, Calif., both posting price declines of 58.1 percent from the peak of the market in July 2006.

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