While home prices plummeted throughout most of the country last year, people moving to the Dallas-Fort Worth area enjoyed improved real estate values.
According to a study conducted by the Real Estate Center
at Texas A&M University, prices for nondistressed homes increased 1.2 percent on a per-square-foot basis compared to 2009, while the value of distressed properties increased 2.51 percent.
The analysis was performed on two levels, as the center compared the annual median price per square foot of distressed versus nondistressed sales across the entire Dallas-Fort Worth area. The second analysis divided distressed and nondistressed sales into geographic locations based on the total number of foreclosure sales in the area.
The increase in home prices may help explain why the housing market continues to struggle this year. The Dallas Morning-News reports that pre-owned home sales dropped 17 percent in North Texas compared to 2010.
Meanwhile, throughout most of the West, home prices have dropped considerably. According to a report released by Clear Capital earlier this month, eight of the nation's 15 lowest performing markets are located in the western half of the country.