Dallas Home rose to 2.7% in May to June 2009, the highest level since last September, according to the closely watched Standard & Poor's/Case-Shiller Index. It was the fourth consecutive month of gains in the Dallas index price, S&P said Tuesday.
And the Federal Housing Finance Agency said that Dallas-area prices were up slightly in the second quarter.
The higher prices are a good sign for the local housing market, which has suffered declines for almost two years.
But analysts say not to get overly optimistic about a rebound.
"These are good indications, and sure, it's better than going down further," said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University. "The thing that is concerning to everybody is there is still job loss and no job creation.
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