First November-to-December increase in home prices since 2004

The key findings of the December 2009 RPX Monthly Housing Market Report released today by Radar Logic Incorporated include the following:
· The RPX Composite price increased between November and December for the first time since 2004.
· The 25-metropolitan-area transaction count increased 44% relative to December 2008.
· Sales of foreclosed homes increased as a percentage of total sales during early December. This reversed the trend during the prior two months, when sales of distressed homes decreased as a share of total transactions.

The RPX Composite price increased in December 2009 on a month-over-month basis, marking the first time it has increased during the month of December since 2004. The RPX Composite tracks housing prices in 25 of the largest U.S. metropolitan statistical areas (MSAs).

On a month-over-month basis, the composite price for housing markets in the Northeast increased by 2%, while the Midwest composite decreased by 5%. The West composite price remained flat month over month, as price increases in San Francisco, Denver and, surprisingly, Las Vegas were offset by price declines in the other western cities. The composite price for the South also remained essentially flat month over month.

Home sales, as indicated by RPX transactions counts, increased in all 25 metropolitan areas covered by the report relative to a year prior. Home sales across all 25 cities have increased 44% year over year.