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Larew, Doyle & Associates opens its doors

National Mortgage Professional
Aug 11, 2008

IAS360 House Price Index rises 1.1 percent in JuneMortgagePress.comIntegrated Asset Services, IAS360 House Price Index Integrated Asset Services LLC (IAS), a default management and residential collateral valuation, has released its IAS360 House Price Index for June 2008. The June report, which includes the most current and granular data available in the industry, showed a 1.1 percent appreciation in house prices on a national level, and a -11.5 percent decline from June 2007 to June 2008. The IAS360 House Price Index is a comprehensive housing index tracking monthly change in the median sales price of detached single-family residences across the U.S. The index, based on all arms-length transactions, tracks data at a "neighborhood" level, which is then rolled up to report on the changes in 360 counties, nine census divisions, four regions, and the nation overall. The IAS360 House Price Index is delivered on a monthly basis. Three out of four U.S. census regions experienced appreciation in house prices during June, but continued to feel downward pressure year-over-year. The Western region posted a decline of -0.5 percent adding to the double digit year-over-year decline of -16.9 percent. Conversely, every census division experienced substantial year-over-year declines except for the East North Central division which continued to appreciate at a rate of 5.3 percent during the month of June. "In turbulent housing markets, timeliness and granularity are necessary in gauging the market," said Dave McCarthy, president and CEO of IAS. "The IAS360 House Price Index county level data reports from the front lines in the housing struggle; depending on the neighborhood, we are seeing everything from strong and stable markets to barebones housing markets." "The IAS360 HPI is not a seasonally-adjusted or smoothed index. Typically small month to month appreciation is present in the summer due to increased seasonal housing demand. Therefore, strengthening of the market in the summer can occur even when the longer term market trend might be downward," said McCarthy. For more information, visit www.iasreo.com.
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