Despite a bevy of indications the housing market is still hurting, a new survey finds home prices are now rising.
National real estate firm FNC announced earlier this week that home values increased from April to May for single-family, non-distressed homes at a seasonally unadjusted rate of 0.8 percent. The firm says it does not include distressed properties in their analysis because they are not an accurate representation of home values, as they're typically sold at a discounted rate due to a variety of factors.
The study also detailed what markets showed the largest rise in home prices on a month-to-month basis. The most significant jump was Minneapolis with a 9.2 percent increase. Other markets showing upward price momentum included Boston, Charlotte, Portland and Chicago.
Markets that showed weakening, according to FNC, included Orlando, Phoenix and Las Vegas.
Lower prices in these regions may be due to low demand, perhaps resulting from lenders not approving potential borrowers due to bad credit. But negative items may have been unfairly reported or added to a credit report by mistake, thus causing the consumer to seek credit score help.