June Home Prices Up for Third Straight Month

Oxford, Miss. (Aug. 25, 2011) – FNC announced Thursday that U.S. home prices rose for the third consecutive month, ending in June with the largest seasonal gain year to date. With very little data supporting a sustainable housing recovery, recent encouraging uptrends are likely driven by seasonal upswings in home-buying activities, rather than a reflection of more fundamental improvement in underlying housing conditions. Based on the latest data on non-distressed home sales (existing and new homes), FNC’s Residential Price Index™ [1] (RPI) indicates that single-family home prices were up