MHN Online says another metric shows the growth in U.S. housing prices is slowing down: FNC reported on Monday its Composite 100 index was up 8 percent in June compared with the same month a year ago; the year-over-year increases for the index have been slowing since peaking in February at 9.4 percent, which was the highest rate since 2006.
The FNC Composite 100 increased 0.8 percent from May to June. The index tracks pricing in the 100 largest MSAs in the country, and isn’t seasonally adjusted and excludes foreclosure auction sales, REO sales, and short sales. The company’s other, more focused indexes (10-MSA, 20-MSA, 30-MSA) likewise increased between 0.8 percent and 0.9 percent month-over-month in June, and likewise have been slowing down in terms of year-over-year growth.
Separately, CoreLogic reported last week that home prices year-over-year increased nationwide 8.8 percent compared with a year ago. The company predicts that from June 2014 to the same month in 2015, U.S. home price appreciation will be only 5.7 percent.
