< Go Back to Press Release List
April 21, 2011
At -0.7% RPI Indicates Better-than-Expected February Seasonality in Price Declines
FNC announced Thursday that U.S. home prices weakened only slightly in February—a better-than-expected price seasonality.
Based on the latest data on non-distressed home sales (existing and new homes), FNC’s Residential Price Index™ (RPI) indicated that home prices in February declined 0.7% from January, or 5.3% from a year ago.
Contrary to expectations of relatively rapid price deteriorations, February delivered instead the slowest one-month price declines since November. Even so, the trend shows that weak housing demand and spillovers from rising distressed sales continue to affect the mortgage market.
View Full Release
|