Pro Teck Valuation Services released its Home Value Forecast for January, ranking last month's best and worst performing metros according to market conditions. New York's Nassau County--home to Long Island--turned in the greatest performance, thanks in part to a low number of foreclosure sales, which made up 2% of total transactions.
The New York market was joined by several California metros, including Los Angeles, which experienced a 24% increase in home prices over the last rolling quarter. At the other end of the spectrum, a number of Florida markets showed up among last month's worst performers. Sitting at the bottom of the list was Jacksonville, where foreclosures accounted for more than 80% of January sales.
Morgan Stanley is the latest company to make peace with the Federal Housing Finance Agency over alleged misrepresentations of securities sold to Fannie Mae and Freddie Mac. In a filing with the Securities and Exchange Commission, the company revealed it has reached a $1.25 billion agreement in principle with the FHFA to resolve pending litigation. The agency didn't comment on the settlement, though a public affairs officer confirmed the news.