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FNC Index: December Home Prices Hit Record Low
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You're Now Reading:
FNC Index: December Home Prices Hit Record Low
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
You're Now Reading:
FNC Index: December Home Prices Hit Record Low
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February 22, 2011 (Chris Moore)
mortgage-price-reduced-image
Driven in part by rising sales of distressed properties and higher foreclosure-sales discounts, home prices declined for the seventh straight month in December and suffered their largest one-month drop during the year according to FNC’s recently released Residential Price Index (PRI). According to the RPI, 2010 year end prices declined by more than 3.4 percent since January 2010.

Twenty-three out of the 30 major metropolitan markets tracked suffered price declines in December that averaged 2.2 percent.

Home prices dropped in the double digits year-over-year in Atlanta, Chicago, Las Vegas, Orlando, and Phoenix while San Diego, Los Angeles, and San Francisco had the best performing markets during the year with increases of 5.1 percent, 7.8 percent and 8.1 percent, respectively.

The FNC RPI blames the deteriorating trend in home prices from increased sales of foreclosed properties. As a percentage of total homes sold (both new and existing), sales of distressed properties increased to 26.8 percent in the fourth quarter compared to 25.5 percent in the third quarter and 23.5 percent in the second quarter of 2010.

The foreclosure sales discount in the fourth quarter was 40.8 percent compared to 39.2 percent in the third quarter and 36.6 percent in the second quarter of 2010.

The FNC RPI also predicts that more foreclosure sales are expected since lenders announced in December that they would resume foreclosure sales following the “robo-signing” controversy.

Accordingly, FNC anticipates further downward pressure on home prices in the coming months with the upside that the resumption of foreclosure sales will reduce surplus of distressed properties and eventually bring supply to levels in line with weak housing demand, paving the way for a more sustainable housing recovery later.

The Residential Price Index, created by mortgage technology company FNC, is the industry’s first hedonic price index built on a comprehensive database combining public records and real-time appraisals. If you’d like to review the Index, click here.
Tags: FNC RPI, distressed properties, foreclosure sales, home prices, price declines, downward pressure, mortgage technology

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Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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Tips
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Tips
About
Mortgages
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Calculator
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Rates

February 22, 2011 (Chris Moore)
mortgage-price-reduced-image
Driven in part by rising sales of distressed properties and higher foreclosure-sales discounts, home prices declined for the seventh straight month in December and suffered their largest one-month drop during the year according to FNC’s recently released Residential Price Index (PRI). According to the RPI, 2010 year end prices declined by more than 3.4 percent since January 2010.

Twenty-three out of the 30 major metropolitan markets tracked suffered price declines in December that averaged 2.2 percent.

Home prices dropped in the double digits year-over-year in Atlanta, Chicago, Las Vegas, Orlando, and Phoenix while San Diego, Los Angeles, and San Francisco had the best performing markets during the year with increases of 5.1 percent, 7.8 percent and 8.1 percent, respectively.

The FNC RPI blames the deteriorating trend in home prices from increased sales of foreclosed properties. As a percentage of total homes sold (both new and existing), sales of distressed properties increased to 26.8 percent in the fourth quarter compared to 25.5 percent in the third quarter and 23.5 percent in the second quarter of 2010.

The foreclosure sales discount in the fourth quarter was 40.8 percent compared to 39.2 percent in the third quarter and 36.6 percent in the second quarter of 2010.

The FNC RPI also predicts that more foreclosure sales are expected since lenders announced in December that they would resume foreclosure sales following the “robo-signing” controversy.

Accordingly, FNC anticipates further downward pressure on home prices in the coming months with the upside that the resumption of foreclosure sales will reduce surplus of distressed properties and eventually bring supply to levels in line with weak housing demand, paving the way for a more sustainable housing recovery later.

The Residential Price Index, created by mortgage technology company FNC, is the industry’s first hedonic price index built on a comprehensive database combining public records and real-time appraisals. If you’d like to review the Index, click here.
Tags: FNC RPI, distressed properties, foreclosure sales, home prices, price declines, downward pressure, mortgage technology

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

February 22, 2011 (Chris Moore)
mortgage-price-reduced-image
Driven in part by rising sales of distressed properties and higher foreclosure-sales discounts, home prices declined for the seventh straight month in December and suffered their largest one-month drop during the year according to FNC’s recently released Residential Price Index (PRI). According to the RPI, 2010 year end prices declined by more than 3.4 percent since January 2010.

Twenty-three out of the 30 major metropolitan markets tracked suffered price declines in December that averaged 2.2 percent.

Home prices dropped in the double digits year-over-year in Atlanta, Chicago, Las Vegas, Orlando, and Phoenix while San Diego, Los Angeles, and San Francisco had the best performing markets during the year with increases of 5.1 percent, 7.8 percent and 8.1 percent, respectively.

The FNC RPI blames the deteriorating trend in home prices from increased sales of foreclosed properties. As a percentage of total homes sold (both new and existing), sales of distressed properties increased to 26.8 percent in the fourth quarter compared to 25.5 percent in the third quarter and 23.5 percent in the second quarter of 2010.

The foreclosure sales discount in the fourth quarter was 40.8 percent compared to 39.2 percent in the third quarter and 36.6 percent in the second quarter of 2010.

The FNC RPI also predicts that more foreclosure sales are expected since lenders announced in December that they would resume foreclosure sales following the “robo-signing” controversy.

Accordingly, FNC anticipates further downward pressure on home prices in the coming months with the upside that the resumption of foreclosure sales will reduce surplus of distressed properties and eventually bring supply to levels in line with weak housing demand, paving the way for a more sustainable housing recovery later.

The Residential Price Index, created by mortgage technology company FNC, is the industry’s first hedonic price index built on a comprehensive database combining public records and real-time appraisals. If you’d like to review the Index, click here.
Tags: FNC RPI, distressed properties, foreclosure sales, home prices, price declines, downward pressure, mortgage technology

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.