Released February 16, the FNC Residential Price Index reported that home prices in December posted a modest monthly increase at the close of the year.
Nationwide, home prices in December 2015 represented a 0.4 percent uptick from the seasonally adjusted rate in November and a 6.2 percent increase on an annual basis.
National home prices increased 6 percent annually in the fourth quarter of 2015.
“Riding on a robust pace of home sales and new housing starts, home prices in 2015 finished strong with year-over-year growth at a 15-month high since October 2014. If judging on a seasonal basis, December’s month-over-month increase outpaced the same period of the past three years,” said Yanling Mayer, FNC’s housing economist and director of research, in a statement.
Some surprising metros saw the highest month-over-month gains.
- Baltimore, increase of 2.6 percent
- St. Louis, increase of 2.6 percent
- Las Vegas, increase of 2.1 percent
- Portland, increase of 2 percent
- Houston, increase of 1.7 percent
In December 2015, some cities posted year-over-year gains in the double digits:
- Portland, increase of 14.2 percent
- Denver, increase of 13 percent
- San Francisco, increase of 12.6 percent
- Las Vegas, increase of 11.9 percent
- Miami, increase of 11.5 percent
- Sacramento, increase of 11.5 percent
- Phoenix, increase of 11.2 percent
- Cincinnati, increase of 10.1 percent
In Washington, D.C., home prices increased 0.3 percent on a monthly basis in December 2015. Annually, DC prices rose 6.3 percent.
Baltimore saw the highest monthly gain in December, however, it’s important to note that it has the nation’s largest share of foreclosures, alongside Chicago, Detroit and Tampa.
