February 21, 2011: Home prices in 23 U.S. metropolitan areas fell 2.2% in December, the largest one-month drop for fiscal 2010, and a sign that foreclosed properties continue to weigh down home values across the nation, the FNC Residential Price Index revealed Monday.
Mortgage technology firm FNC publishes the index to track home price levels across the nation.
According to the latest report, home values fell for the seventh straight month in December. Between January of 2010 and December, home prices dropped more than 3.4%, according to the report on Housing Wire.
Of the 30 metropolitan areas surveyed, all but seven experienced price declines in December.
The biggest losers were Atlanta, Chicago, Las Vegas, Orlando and Phoenix — all of which experienced double-digit declines in the last month of 2010.
The big gainers were San Diego, Los Angeles and San Francisco, which experienced price jumps of at least 5% on a year-over-year basis in 2010.