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FNC Residential Price Index still rising

Home price appreciation improved in 2013

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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.

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