The latest FNC Residential Price Index™ (RPI) shows U.S.
home prices continue to rise. As of December, the RPI indicates the fastest
year-over-year growth since the recovery began in early 2012. The index,
constructed to gauge price movement among normal home sales exclusive of
distressed properties, was up 0.3% in December—outperforming the overall price
movement in the single-family housing market. Unlike overall price measures
that include distressed sales (which recently have shown signs of weakening),
home prices of normal sales have been rising at steady and sustainable
levels—about 0.3-0.5% per month.
Based on recorded sales of normal, non-distressed properties
(existing and new homes) in the 100 largest metropolitan areas, the FNC
national composite index shows that, in December, home prices rose at a
seasonally unadjusted rate of 0.3%, essentially maintaining the same pace
achieved since September.
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