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July 25, 2012
Home Prices Continue to Strengthen; FNC Residential Price Index Up 0.8%
FNC’s latest Residential Price Index™ (RPI) indicates that U.S. residential property values continue to rise in May, widening March’s and April’s gains to capture the strongest seasonal price rebound in five years. Nationwide, May home prices – based on recorded non-distressed sales transactions in the 100 largest metropolitan areas – rose 0.8% from the previous month. Limited inventory amid rising seasonal demand and falling numbers of distressed properties in total home sales continue to be the driving force behind the price recovery.
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