FNC: Housing Recovery Brightens

According to HousingWire, FNC’s most recent Residential Price Index (RPI) shows real estate values have risen to a 20 month high, as foreclosure sales have fallen 23 percent from a year ago to 17.4 percent. In the second quarter FNC home prices increased 2.7 percent, marking the largest rise in six years, as home prices rose nearly four percent since the beginning of the year. Year-over-year, home prices have risen 1.5 percent. As MHProNews has learned, FNC says markets that were hit hardest by the housing downturn are rebounding. Phoenix’ year-to-year growth as of last month hit 13.3 percent, followed by Detroit at 7.6 percent, Denver at 6.8 percent, and Miami at 6.7 percent.

(Image credit: etftrends)

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