Foreclosures Continue to Bring Home Prices Down

FNC releases Q4 2011 Update of Market Distress and Foreclosure DiscountThe latest FNC Residential Price Index™ (RPI), released Monday, indicates that U.S. home prices declined steadily in the last half of 2011. Since July 2011, prices on non-distressed properties (excluding foreclosure sales, REO sales, and short sales) have fallen 4.5% - averaging nearly 1.0% per month, according to the RPI -- the mortgage industry’s first hedonic price index built on the nation’s most comprehensive residential property database that blends public records with real-time appraisals of property