Marking the fastest quarterly growth since the current recovery began, the latest FNC Residential Price Index (RPI) rose 2.5 percent from Q2 to Q3 2013. As HousingWire informs MHProNews, FNC attributes the growth to rising home sales and a drop in foreclosure sales. Nationwide, foreclosure sales accounted for 13.4 percent of total home sales as of September, a slight increase over August’s 12.7 percent, but significantly down from 16.6 percent a year ago. Home prices will grow more slowly in the coming months as the demand for houses contracts in the winter.
(Image credit: globest.com)