Home values across the U.S. remained unchanged in September after enjoying six months of constant increases, according to the latest Residential Price Index from analytics firm FNC.
FNC distinguishes its home price report from other market analysis by excluding the effects of foreclosure sales on home prices.
According to the firm, September home prices remained unchanged from August, but still rose 2.3% from year ago levels. FNC came up with that conclusion after analyzing 100 different metropolitan-statistical areas.
From the second to the third quarter of 2012, U.S. home prices rose 1.8%. Year-to-date, values also rose 4.5%.
The report excludes the impact of distressed sales, but noted foreclosures are down. In fact, foreclosures accounted for only 17.2% of total home sales in September, compared to 26.7% in January and 23% in September of 2011.
The metros experiencing the largest year-over-year price increases included Phoenix, which saw a 17.6% jump in prices, along with Denver (up 9%); Miami (6.7%); Detroit (6.4%); St. Louis (5.7%); and Houston (4.9%).
