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November 13, 2014

FNC Index: Home Prices Decline in September - Bay Area and Los Angeles Metro show greatest price drops

The latest FNC Residential Price Index™ (RPI) shows home prices declined in September - ending the 30-month rising streak - despite strong home sales and continued labor-market improvement. Based on recorded sales of non-distressed properties (existing and new homes) in the 100 largest metropolitan areas, the index fell 0.3% between August and September. In the meantime, the annual rate of home price appreciation continued to level off, down to 6.3% in September. Throughout the third quarter, home prices were up 1.8% from the second quarter.

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