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November 16, 2012
Home Prices Flat in September, but Up 1.8% in Third Quarter
FNC’s latest Residential Price Index™ (RPI) indicates that U.S. property values remain relatively unchanged in September after enjoying six months of modest growth. Despite recent encouraging developments, the pace of the housing recovery is likely to be constrained during the housing low season (fall and winter) amid the modest outlook for an overall economic recovery. Regionally, a number of northeastern housing markets affected by Hurricane Sandy will likely show a marked slowdown in recovery due to expected delays in mortgage financing, appraisals, foreclosures, and new constructions.
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