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April 02, 2012
FNC releases Q4 2011 Update of Market Distress and Foreclosure Discount
-- Foreclosures Continue to Bring Home Prices Down
The latest FNC Residential Price Index™ (RPI), released Monday, indicates that U.S. home prices declined steadily in the last half of 2011. Since July 2011, prices on non-distressed properties (excluding foreclosure sales, REO sales, and short sales) have fallen 4.5% - averaging nearly 1.0% per month.
The persistent downtrends in home prices are driven primarily by conditions in the distressed market where the excess supply of foreclosed and REO properties - many vacant and neglected - continue to place downward pressure on home prices.
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