OXFORD, MS -- U.S. home prices fell for the fifth straight month, according to the FNC Residential Price Index (RPI).
According to FNC, home prices in the 30 major metropolitan cities have fell 3.1% between May and October. In addition, FNC said its RPI indicated that nationwide, prices dropped about 2.5% during that same five-month period.
FNC said Top 30 Metro housing markets in Orlando, Washington DC, and Cincinnati show the largest price declines since September at rates of 4.1%, 3.6%, and 3.5% respectively. Meanwhile, October home prices rose in Baltimore and Detroit by 2.9% and 1.9% respectively.
Read FNC's full report.
Posted by Rich Christianson
Have something to say? Share your thoughts with us in the comments below.