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February 16, 2011

December Single-Family Home Prices Decline 1.5 Percent - Ending the Year with the Largest One-Month Price Decline

The FNC Residential Price IndexTM (RPI) - the industry's first hedonic price index built on a comprehensive database combining public records and real-time appraisals – shows that U.S. home prices continued to decline in December, despite recent upbeat data on new and existing home sales. Driven in part by rising sales of distressed properties and higher foreclosure-sales discounts, home prices declined for the seventh straight month in December and suffered their largest one-month drop during the year. As markets approach new lows, the 2010 year-end home prices are now down more than 3.4% from January,

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