FNC Index: January Home Prices Rise 0.3%

A limited housing supply and declining foreclosure sales are contributing to the recovery of underlying property values, the Oxford, Mississippi firm reported. The average list-to-sale price ratio increased to 93.5 in January, compared to 90.3 during the same period a year ago; in other words, the average asking price discount dropped to 6.5% from 9.7%. Foreclosures, as a percentage of total home sales, were 20.2% in January, down from 26.9% a year ago.