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    Real Estate Report

    Tanking oil prices may curb surge in Dallas and Houston home price appreciation

    Jonathan Rienstra
    Jan 14, 2015 | 12:41 pm

    According to the latest report from CoreLogic, Texas is still among the best states in the country for home appreciation, particularly in Houston and Dallas, which took the top two spots in the company’s latest pricing forecast.

    Home prices in the Dallas-Plano-Irving metropolitan area were up 9.1 percent in November 2014 compared to the same period last year. On a month-over-month basis, home prices increased 0.7 percent from October 2014. That 9.1 percent increase landed the Dallas area at the No. 2 spot nationally.

    Houston took the No. 1 spot, with a 10.6 percent increase from November 2013 to November 2014. At the state level, home prices rose 8.5 percent from November 2013, enough for a No. 3 ranking.

    Home prices in the Dallas-Plano-Irving metropolitan area were up 9.1 percent in November 2014 compared to the same period last year.

    Across the nation, home prices are up 5.5 percent from the same time period last year, with a month-over-month increase of 0.1 percent. All states showed a year-over-year home price appreciation in November, and the home price index (HPI) reached new highs in seven states, including Texas.

    The U.S. has experienced 33 consecutive months of year-over-year increases; however, the national average is no longer posting double-digit increases. Sam Khater, deputy chief economist at CoreLogic, said in a release that prices in some states, including Texas, might dip as the energy market experiences a downward trend.

    “After decelerating for most of the year, home price growth has been holding firm between a 5 and 6 percent growth rate for the last four months,” Khater said. “However, pockets of weakness are clear in Baltimore and Washington D.C., and three of the top four states with the highest price appreciation are energy intensive and had been benefiting from the energy boom, which is currently receding as oil prices trend downward.

    “These states — Texas, Colorado and North Dakota — may see some downward pressure on prices in 2015.”

    CoreLogic president and CEO Anand Nallathambi said that even with an expected drop in prices coming up, 2015 is forecasted to continue to show growth in housing appreciation.

    “The pace of home price gains have slowed as we exit 2014, but this is probably only a temporary lull,” Nallathambi said. “While the CoreLogic HPI Forecast shows a slight dip in prices next month, we believe that prices will be up a year from now as continued economic growth fuels buyer confidence and their willingness to purchase a home and invest in their future.”

    To determine the home price index, CoreLogic, a residential property information, analytics and services provider, looks at price, time between sales, property type, loan type and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same single-family homes over time, which provides a more accurate “constant quality” view of pricing trends, as opposed to views of pricing trends based on analysis of all home sales.

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    RIP, Henry

    Dallas real estate visionary Henry S. Miller III dies at 79

    Candy's Dirt staff
    Mar 2, 2026 | 5:47 pm
    Henry S. Miller III
    Photo courtesy of Henry S. Miller
    Henry S. Miller III died February 28 at the age of 79.

    Henry S. Miller III — part of an iconic multigenerational Dallas real estate family and the visionary developer behind West Village — died February 28 of health issues. He was 79.

    Born November 16, 1946, to Juanita and Henry S. Miller Jr., Miller grew up in a real estate legacy that began with his grandfather in 1914 and made the name “Henry S. Miller” synonymous with Dallas. Miller helped shape modern Dallas development while maintaining a strong emphasis on neighborhood-scale retail with West Village, a concept ahead of its time.

    Long before mixed-use, walkable districts became common in North Texas, Miller erected an urban village in Uptown where shopping, dining, and residences came together to create a place to live and play. West Village opened in 2001.

    “He envisioned a dense, walkable urban village where streets and plazas were alive with people, shops, restaurants, and residences — a neighborhood that blended modern city living with a human scale rarely seen in Texas at the time,” the family announcement said.

    Walkability was a concept that didn’t exist in Dallas then. The approximately 400,000-square-foot development introduced a dense, walkable model that integrated retail, restaurants, multifamily housing, and public plazas at a time when Dallas development was still largely auto-centric. West Village became a template for later mixed-use projects across the region.

    His family says Miller was incredibly hands-on throughout the project, working alongside co-developers, architects, planners, and community stakeholders. He viewed the development not simply as a commercial venture but as a long-term contribution to the city’s evolving urban fabric.

    Henry S. Miller III Henry S. Miller, Jr (left) with Henry III on the roof of Highland Park Village, circa early 1980's.Photo courtesy of Miller family

    Miller also played a key role in the evolution of Highland Park Village. His father and family purchased the historic shopping center in 1976. Henry III and his father led a re-tenanting and revitalization of Highland Park Village that elevated its national retail profile while maintaining its neighborhood identity.

    With his connections in fashion retail, Miller helped Highland Park Village attract luxury brands such as Prada, which did not yet have a retail presence in Dallas. The family sold the property to Ray Washburne in 2009.

    His approach to neighborhood retail also shaped Preston Royal Shopping Center, originally developed in 1958 by Henry S. Miller Jr. and Trammell Crow, and was sold in 2012.

    “There, he applied the same thoughtful approach — prioritizing stability, daily-use tenants, and a sense of familiarity that has served generations of families,” a family statement read. “Rather than chasing short-term trends, Henry believed centers like Preston Royal should reflect and support the surrounding neighborhoods, ensuring they remained places of convenience, connection, and community life.”

    Miller earned his undergraduate degree from SMU and later completed the Advanced Management Development Program at Harvard Graduate School of Design. Over his career, he led ventures including Henry S. Miller Partners/Urban Partners and Henry S. Miller Interests Inc., and he was involved in international projects such as the Loreto Bay Company in Mexico.

    Miller’s grandfather, Henry S. Miller, founded the family real estate firm as a one-man show in 1914 in Dallas. The patriarch’s son, Henry S. Miller Jr., expanded the business significantly and was involved in major retail developments such as Preston Royal and Highland Park Village. Henry S. Miller III led West Village and stewarded a revitalization of Highland Park Village with his father.

    Beyond development, Miller served on the boards of the Child and Family Guidance Foundation, NEXUS Recovery Center, SPCA of Texas, The Family Place, and the Center for Performing Arts. He also mentored emerging real estate professionals through the Harvard Alumni Real Estate Board.

    Miller is survived by his four children, Kathryn Miller Rabey; Henry S. Miller IV and his wife, Lydia; Michael Alexander Miller and his wife, Lindsey; and Alexander Lewis Miller. He is also survived by his sisters, Patsy Miller Donosky and Jacqueline Miller Stewart. His grandchildren include Nicholas, Maximilian, and Olivia Rabey; Henry, Jack, Owen, and Mimi Miller; and Layton Garrett, Miles, and Samuel Miller. He was preceded in death by his brother, Vance C. Miller, his father Henry S. Miller Jr., and his mother Juanita Miller.

    Funeral arrangements have not yet been announced.

    ---

    This story, by Candy's Dirt executive editor Shelby Skrhak, originally appeared on CandysDirt.com and was republished with permission.

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