RSS Feed by Calculated Risk on 6/10/2014 12:31:00 PM
Tuesday, June 10, 2014
FNC: Residential Property Values increased 8.4% year-over-year in April
In addition to Case-Shiller, CoreLogic, I'm also watching the FNC, Zillow and several other house price indexes.
FNC released their April index data today. FNC reported that their Residential Price Index™ (RPI) indicates that U.S. residential property values increased 0.6% from March to April (Composite 100 index, not seasonally adjusted). The other RPIs (10-MSA, 20-MSA, 30-MSA) increased between 0.6% and 0.7% in April. These indexes are not seasonally adjusted (NSA), and are for non-distressed home sales (excluding foreclosure auction sales, REO sales, and short sales).
The year-over-year change slowed in April, with the 100-MSA composite up 8.4% compared to April 2013. The index is still down 21.7% from the peak in 2006.
Click on graph for larger image.
This graph shows the year-over-year change based on the FNC index (four composites) through April 2014. The FNC indexes are hedonic price indexes using a blend of sold homes and real-time appraisals.
This might be the beginning of a slowdown in prices increases in the FNC index.
The April Case-Shiller index will be released on Tuesday, June 24th, and I expect Case-Shiller to show a slowdown in price increases.
