Inman

FNC Index: Los Angeles sits at the top for monthly residential price increases

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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:

Los Angeles was accompanied by other California MSAs– San Francisco and San Diego– with the biggest gains.

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The year-over-year home price increase in Los Angeles between November 2015 and 2014 was 7.4 percent, which was the 14th largest gain. Nearby Riverside wasn’t too far behind with an increase of 6.9 percent.