Home Prices Continue to Weaken: Down 0.6% in October
Almost without exception, individual markets tracked by the FNC 30-MSA composite index declined in October.FNC’s latest Residential Price Index™ (RPI), released Wednesday, indicates that October U.S. home prices continued to weaken at a modest pace despite recent positive home-sales data. The trend is a reminder that the housing market remains constrained by weak economic fundamentals and the overhang of distressed properties. October marks the third month of continued price declines and is unfortunately accompanied by a moderate downward index revision to the previous month.
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