IAS360 House Price Index
DENVER, CO—Integrated Asset Services®, LLC (IAS®) (www.iasreo.com)
The slight decline marked the first down month for the IAS360 since February. The leading U.S. housing benchmark remains ahead fractionally for the year but still well off (-16.2%) its high in June 2007.
“We are seeing normal seasonality with a slight July pullback, but we are not out of the weeds yet as we will see waves of volatility while the markets correct themselves and settle down,” said Dave McCarthy, President and CEO of Integrated Asset Services. “Meanwhile, there’s an awful lot going on down at the neighborhood level that will take time to normalize at the top.”
Conspicuous among the nation’s 10 major metropolitan statistical areas (MSAs) were the 3.8% declines in both Denver, which had been reliably stable since the first of the year, and San Francisco, which had jumped almost 8.0% from February. Notable, too, was a sizable 4.8% drop for the month in Las Vegas. While the region has fallen month over month since August of 2006, July’s plunge represents the largest percentage drop to date.
“A lot of this volatility has to reflect Washington's near-term influence on price behavior through actions like the foreclosure moratorium,”
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 for 15,000 neighborhoods, that roll 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.
Integrated Asset Services offers full service, end-to-end mortgage service solutions including valuation and data analytics. The firm’s i-Series collateral valuation platform (http://www.iasreo.com/
Editor’s Note: Additional IAS360 HPI data, charts, and interviews are available upon request. Data for 2008 and since the peak of 2006 are available at levels from national to MSA to neighborhood.
About Integrated Asset Services, LLC
IAS (www.iasreo.com)
This press release contains various forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future results of operations and market opportunities that are based on IntelliReal and IAS’ current expectations, assumptions, estimates and projections about the company and its industry. Investors are cautioned that actual results could differ materially from those anticipated by the forward-looking statements as a result of the success of IAS’ branding and consumer awareness campaign and other marketing efforts; competition from existing and potential competitors;
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