FNC Residential Price Index still rising
Home price appreciation improved in 2013
Home price appreciation in 2013 was even better than 2012, according to FNC.
The FNC Residential Price Index, which does not include distressed properties, was up 0.3% in December.
Home prices of normal sales have been rising at steady and sustainable levels — about 0.3-0.5% per month.
FNC’s RPI is the mortgage industry’s first hedonic price index built on a comprehensive database that blends public records of home prices with real-time appraisals of property and neighborhood attributes.
As a gauge of underlying home values, the RPI excludes final sales of real-estate owned and foreclosed homes, which are frequently sold with large price discounts, likely reflecting poor property conditions.