AgentIndustry News

Slight decline in November home prices a blip

  • FNC’s RPI reported New York City's gain at 4.8 percent in its recent market report.
  • The RPI showed U.S. home prices were sluggish in November as the market entered a slower winter season.
  • FNC analysts warned against reading too much into the November data, as they discovered that home prices were up six percent nationwide from a year ago.
  • Gains were similar in parts of Brooklyn and Queens, according to analysis firms such as JLL and Douglas Elliman.

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The latest FNC Residential Price Index (RPI) shows New York City housing prices dipping a minor 0.9 percent this past November from October, but over an 11-month period -- January through November 2015 -- NYC housing prices rose nearly five percent. FNC’s RPI reported the gain at 4.8 percent in its recent market report. The gain in NYC housing prices from November 2014 to 2015 was listed as two percent by FNC mortgage market researchers. The RPI showed U.S. home prices were sluggish in November as the market entered a slower winter season. Home prices registered a 0.0 percent change nationally between October and November of 2015. FNC analysts warned against reading too much into the November data, as they discovered that home prices were up six percent nationwide from a year ago. Gains in some markets were offset by declines in others, they wrote. The FNC RPI’s findings are similar to findings by New York-based consulting firms, which are registering growth in...