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Denver, CO, United States, 2008/08/12 - Integrated Asset Services released its IAS360 House Price Index for June 2008. The IAS360 House Price Index is a comprehensive housing index tracking monthly change.
Integrated Asset Services, LLC (IAS, iasreo.com), a leader in default management and residential collateral valuation, today 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% appreciation in house prices on a national level, and a -11.5% 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.
The table above summarizes the national and regional results for the month of June. 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% adding to the double digit year-over-year decline of -16.9%.
The table below illustrates that out of the nine census divisions the IAS360 HPI reports on, only three posted declines during the month of June. 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% 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 Integrated Asset Services. “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.
IAS also provides “neighborhood” level house price trends through its iMVI product. More information on iMVI can be found on the IAS website.
*Due to the timeliness of the data, the IAS360 House Price Index is subject to revisions on a monthly basis.
About Integrated Asset Services, LLC
IAS (iasreo.com) is a privately-held Colorado-based corporation specializing in default mortgage services including valuation, reconciliation and full cycle REO disposition. The Company’s advanced valuation and volatility technology combined with its expert professional services help its clients reduce exposure while expediting the entire asset management process. Founded by REO industry experts, IAS provides services that go beyond industry expectations; from the level of integrity of its employees to the measurably better service it routinely provides.
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 InteliReal 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; and IAS’s ability to continue to develop and integrate new products, services and technologies.