The FNC Residential Price Index shows national home prices remaining relatively flat in February, a month known for large seasonal price movement. The Index indicated that home values declined just 0.7 percent from the month before. The better-than-expected report could signal that the housing market is ready to rebound at the same time the spring-selling season usually leads to an uptick in buyer activity. FNC says the near-term outlook for housing remains subdued but rising distressed sales and excess inventory reduction combined with improved consumer perception and confidence should lead to a more sustainable recovery ahead. More here and here.
