04:10 PM CDT on Wednesday, June 17th, 2009
By STEVE BROWN/The Dallas Morning News
The Dallas-Fort Worth area is one of the top three housing markets in the country.
That's according to a just-released economic report from the Brookings Institution.
In this conprehensive, nationwide study of the D-FW area, ranked third behind Houston and Buffalo among the metro areas that have been the least affected by the falling home prices.
Brookings researchers make these claims based on the Federal Housing Finance Agency's quarterly House Price Index, which tracks values of homes mortgaged by Fannie Mae and Freddie Mac.
By that measure, home prices in the D-FW are up slightly this year compared with the first quarter 2008.
Other housing-market research that includes all home sales shows that home prices here are down about 4 percent year to date compared with the same period of 2008. But that's still less than most U.S. home markets.
Out of the 100 cities Brookings researchers looked at, the worst home markets in their opinion are in Stockton, Cailf., Las Vegas and Modesto Calf.
BEST U. S. Housing Markets: Worst U.S. Housing Markets:
1. Houston 1. Stockton, Calif.
2. Buffalo 2. Las Vegas
3. Dallas-Fort Worth 3. Modesto, Calif.
4. Wichita 4. Riverside, Calif.
5. Greenville, S.C. 5. Cape Coral, Fla.
SOURCE: Brookings Institution