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January 22, 2015

FNC Index: Home Prices Flat in November

The latest FNC Residential Price Index™ (RPI) shows the nation’s average home prices were largely unchanged from October to November. This trend occurs after prices declined for the first time in September following two-and-a-half years of modest-to-strong price increases nationwide.

Weak housing activity, including sales of existing homes – even as 30-year mortgage rates are down by more than a half percentage point from a year ago – has largely contributed to continued price weakness. The retreat in the annual rate of home price appreciation continues, down to 5.2% in November, compared to 7.9% in June.

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