U.S. home prices ended their nine-month string of upticks in October, according to the FNC Residential Price Index. While seasonality surely has a role in the slow down, experts believe the market to be on the rise on a much more steady basis next year.

In October, annual growth was reported at 5.9 percent.

unnamed (1)

“On the upside, low interest rates and the leverage provided by loans under affordable housing programs help maintain affordability and partly offset the impact on affordability from months of rapidly rising prices,” said Yanling Mayer, FNC’s housing economist and director of research, in a statement.

“With a much anticipated policy rate increase to affirm the strength of the U.S. economy, we will likely be looking at a milder seasonal slowdown and possibly a sooner return of market rebound in 2016.”

unnamed

In Los Angeles, the FNC Residential Price Index saw a year-to-date increase of 4.9 percent– comparing October 2015 to January 2015. Nearby Riverside posted an annual gain of 8.4 percent.

The LA year-over-year increases and monthly changes were just as strong with an increase of 7.8 percent and a slight dip of 0.2 percent, respectively. Riverside saw an 8.4 percent year-over-year increase and a 0.8 percent month-over-month uptick.

unnamed (2)

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription