The FNC Residential Price Index
Mortgage technology company FNC® revolutionized residential price-trend reporting, featuring more accurate, more specific data for properties nationwide -- the FNC Residential Price Index (RPI). Check it out at www.fncrpi.com
For more than a decade, FNC -- in cooperation with top lender clients -- has harnessed data from millions of home appraisals nationwide.
As the technology platform for valuation ordering and delivery, FNC blended that data with public record information to give the real estate industry the most up-to-date, most comprehensive property data available. Compiled into FNC’s National Collateral Database™, the data supports powerful analytic products that loan originators and servicers can use to gain a competitive edge through more accurate valuation decisions.
The latest of these state-of-the-art analytics is FNC’s RPI. Until now, tools for measuring real estate prices have been limited by the available data. Current repeat-sales- and median-sales-price indices are not sufficiently stable and often require revisions.
The most accurate index is known as hedonic—a highly stable model that takes into account extensive data on all properties within a given period of time. Because of FNC’s wealth of property data, the company is uniquely positioned to provide the RPI, the industry’s only hedonic model.
Published on the 15th of each month, FNC’s RPI reflects only data within the most recent month; most indices on the market aggregate the prior three months data. FNC’s RPI keeps you as current as you can be.
Why is FNC’s RPI a better alternative?
- Monitor home price trends nationwide at the zip code level and beyond and use the data to forecast your own price trends.
- Data is available from more than 150 MSAs, updated monthly, which enables you to see more timely updates on prices in more regions of the country—even from states with non-disclosure laws.
- FNC’s index is fueled by the most comprehensive U.S. residential property database: FNC’s National Collateral Database which includes more than 78 million appraisal records in addition to public record and MLS data.
- Because we use the most current and most expansive database, the FNC RPI delivers more accurate results with more granular detail than any other index.
- Unlike other index approaches that require complete revisions in the months following their release, the FNC RPI will see very minor historical revisions.
- The FNC RPI approach produces a more accurate measurement of housing prices and market trends; this means analysis based on the FNC RPI will be more powerful and more current.
- RPI helps you identify the housing market components that are driving the overall price movements and provides focus for targeted research, due diligence, or marketing programs.