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FNC Index: Houston home values drop significantly in November

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After a nine-month run of home values increases, the inevitable slip happened in November. Released January 19, the FNC Residential Price Index reported that home prices in November remained largely unchanged, a dip of 0.1 percent, from October but are still increasing on an annual basis.

National home prices increased 6 percent annually in November.

“Despite recent months’ more upbeat data on new home sales and residential construction, prices have been relatively stable since August, with month-to-month momentum showing no significant gains, neither decelerating nor accelerating rapidly,” said Yanling Mayer, FNC‘s housing economist and Director of Research.

However, some metros did see month-over-month gains.

In November 2015, some cities posted year-over-year gains in the double digits:

In November 2015, these are the cities with the largest year-to-date change:

Houston saw a 3.3 percent dip in November 2015 over the previous month, making it the worst reported monthly home value trends in the reported MSAs.

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Houston home values increased slightly by 3.3 percent in November over the same month in the previous year. As a year-to-date, Houston home values upticked about 3 percent.