FNC Index: Latest Home Price Numbers Reveal Increase in Jacksonville Area

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Home prices in the Jacksonville, FL, metropolitan statistical area showed an increase in the latest release of the FNC Residential Price Index.

Jacksonville Residential Market Dynamics

Jacksonville Residential Market Dynamics

Home prices in the Jacksonville, FL, metropolitan statistical area increased in January by 0.74% as indicated by the FNC Residential Price Index™ (RPI), marking the 13th consecutive month of appreciation for this market. Also, the Jacksonville market increased 8.01% from January 2013, marking the 20th consecutive month of year-over-year gains. Despite recent growth, this market is still 15.85% below its January 2009 value. Furthermore, single-family home sales dropped 6.28% from January 2013 and the percentage of distressed single-family homes climbed to 35.30%, an increase of 31% from December 2013’s number of 27.04%.

FNC’s RPI is the mortgage industry’s first hedonic price index built on a comprehensive database that blends public records of home prices with real-time appraisals of property and neighborhood attributes. As a gauge of underlying home values, the RPI excludes final sales of real-estate owned (REO) and foreclosed homes, which are frequently sold with large price discounts, likely reflecting poor property conditions.

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Bill Dabney
FNC, Inc.
+1 (662) 236-8304
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