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Tag Archives: Home Values

FNC Price Index Rises in March for 13th Straight Month

price

The latest Residential Price Index (RPI) from FNC, Inc., shows home price gains continuing in March for the 13th straight month. The index, which is based on recorded sales of non-distressed properties in the nation's 100 largest metros, rose 0.4 percent month-over-month in March and 5.5 percent year-over-year. On a quarterly basis, prices were up 0.7 percent from Q4 2012 and 5.7 percent from Q1 2012 as of the end of March, FNC reported. As usual, growth was more accelerated in the smaller 30- and 10-metro indexes.

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CoreLogic: Home Price Gains Accelerate to 7-Year High in March

Including distressed sales, home prices rose 10.5 percent year-over-year in March, marking the biggest annual gain in seven years, according to CoreLogic's Home Price Index (HPI). "For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year," said Dr. Mark Fleming, chief economist for CoreLogic. "The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season."

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Consumers Show Record-High Levels of Confidence in Housing

April saw continued growth in American optimism when it comes to housing health, according to results in Fannie Mae's monthly National Housing Survey. More than half of those who took the survey (51 percent, up from 48 percent in March) said they expect home prices to climb in the next year, while 10 percent--flat for the fourth straight month--expect declines. Thirty-five percent expect no changes. April's report marks the first time in survey history that more than half of respondents projected price gains.

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FOMC Votes to Continue Low Rates, Bond Buy Program

Fed

With a swipe at both the President and the Congress and concerns about downside risks to the economy, the Federal Open Market Committee voted 11-1 Wednesday to leave interest rates unchanged and to continue its program of purchasing agency mortgage backed securities and longer term Treasury securities to maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative. Kansas City Fed President Esther George cast the lone negative vote.

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Case-Shiller Indices Continue Rapid Gains in February

Despite weakness in the Midwest, home prices posted their strongest year-over-year gain in almost seven years in February, according to the Case-Shiller 10- and 20-city Home Price Indexes released Tuesday. Month-over-month, the 10-city index improved 0.4 percent in February, while the 20-city index was up 0.3 percent. On a yearly basis, the 10-city index was up 8.6 percent, and the 20-city index rose 9.3 percent. Economists had forecast the 20-city index would rise slightly to 146.16, essentially unchanged from January.

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LPS: Home Prices Up 1% in February

Lender Processing Services' (LPS) Home Price Index rose 1 percent in February to $210,000, the company reported. Currently, prices are 20.6 percent below the June 2006 peak of $265,000. California cities dominated the top 10 list for metro area price gains, with 9 out of ten metros representing the state. Price decreases were also concentrated. According to LPS data, five out of the six states where prices fell month-over-month were in Connecticut.

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Zillow: Q1 Home Values See ‘Sustainable’ Growth

Zillow's Home Value Index (HVI) rose to $157,600 as of the end of Q1, up 0.5 percent over Q4 2012 and 5.1 percent over the same time last year. Quarterly home value appreciation in the fourth quarter was 2.1 percent--indicating the market is slowing down to a more sustainable pace, says Zillow chief economist Dr. Stan Humphries. Looking ahead, the company's Home Value Forecast shows national home values rising 3.2 percent through March 2014, an annual appreciation rate in line with historic norms.

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