FNC released their May 2016 index data. FNC reported that their Residential Price Index™ (RPI) indicates that U.S. residential property values increased 0.7% from April to May (Composite 100 index, not seasonally adjusted).
The 10 city MSA increased 0.3% (NSA), the 20-MSA RPI increased 0.5%, and the 30-MSA RPI increased 0.6% in May. These indexes are not seasonally adjusted (NSA), and are for non-distressed home sales (excluding foreclosure auction sales, REO sales, and short sales).
From FNC: FNC Index: May Home Prices Up 0.7%
According to the latest FNC Residential Price Index™ (RPI), U.S. home prices rose at a less robust pace in May, up 0.7% at a seasonally unadjusted rate. On a year-over-year basis, home price appreciation continues to level off, ending in May with a seasonally unadjusted rate of 4.9%.Notes: In addition to the composite indexes, FNC presents price indexes for 30 MSAs. FNC also provides seasonally adjusted data.
The index is still down 11.6% from the peak in 2006 (not inflation adjusted).
Click on graph for larger image.This graph shows the year-over-year change based on the FNC index (four composites) through May 2016. The FNC indexes are hedonic price indexes using a blend of sold homes and real-time appraisals.
Most of the other indexes are also showing the year-over-year change in the mid single digit range.
Note: The May Case-Shiller index will be released on Tuesday, July 26th.
from Calculated Risk http://ift.tt/29OclQK
via YQ Matrix
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