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Integrated Asset Services (www.iasreo.com) today released its IAS360™ House Price Index (HPI). Based upon the timeliest and most granular data available in the industry, the index for national house prices moved ahead another 1.2% in June.
With June’s gains--the fourth consecutive positive month--the U.S. housing benchmark advanced 2.7% for full second quarter 2009, virtually offsetting the 2.6% decline across the first three months of the year. The IAS360 HPI is still down 16.7% from its high in June 2007.
Like May, all four U.S. census regions reported positive numbers for the month and in like order. For June, the Northeast was up 1.9%, the Midwest 1.8%, the South 1.2%, and the West 0.4%.
While values showed improvement in neighborhoods across the country, most upper end counties remained mired in a deep slump. In June, price declines continued to accelerate for Putnam County, NY, Morris County, NJ, and Howard County, MD.
“I think that a lot of this valuation disparity reflects the immediate effects of Washington's housing-rescue plan,” said Dave McCarthy, President and CEO of Integrated Asset Services. “Everything so far has helped spur sales of lower-priced homes, which, at least in the short run, is producing winners and losers.”
Among the nation’s 10 largest metropolitan statistical areas (MSAs) reported, only the Las Vegas housing market continued to slide with a drop of another 1.8% for the month. Boston and Chicago followed solid May numbers with increases of 2.9% and 1.3%, respectively, as did the big California MSAs, with Los Angeles gaining 2.2%, San Francisco up 1.7%, and San Diego 1.4%.
“The improvement in the more traditional neighborhoods is encouraging, but it’s easy to think there may be trouble lurking further up the food chain,” said McCarthy. “If there is to be another decrease in home prices, my bet is it’s going to come from the top. One way or the other, the IAS360 will be the first to report it.”
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 of 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.
Tags: asset, ias, reo, services, advanced, appraising, assets, banking, cycle, data
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9 Comments
- Comment by Alane Quien on September 1, 2009 at 11:31pm
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Thanks For sharing this information Erik I happen to be a realtor here in the world cafe community I try to keep abreast of all the market trends. but of course i am very busy with prospecting and assisting clients in there search for property. So this information is something that I can use to share with my clients who may be a little skeptical about what the market is doing right now. Please continue to share your interests on the World cafe.
Cheers!
- Comment by Erik Keith on August 21, 2009 at 7:52am
- I came across this community via the NING community search function. I don't remember exactly the search term I used, but it was something along the lines of world news or social responsibility...
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Comment by Ulrich Soeder on August 19, 2009 at 10:34pm -
Hi Erik,
thanks as well for clarifying your intent and answering my initial question.
Your response points to a uncomplished task for this community: To articulate a clear intent so that new people get a feel for what this community is about.
So thank you very much for creating this opportunity for shared learning!
Cheers, Ulrich
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Comment by Amy Lenzo on August 19, 2009 at 9:49pm -
No worries. Thanks for engaging with me about this, and thanks to Ulrich too for his care for the community.
Erik, I wonder if you'd help me with a question, since you've been so good about responding. There have been a lot of people joining lately what are totally new to the World Cafe and I'm wondering how they found out about us... It could be a very nice thing, but I'm curious because as far as I know we haven't promoted the community outside of World Cafe channels. So would you be willing to tell me how you found us? Thanks!
- Comment by Erik Keith on August 18, 2009 at 8:22am
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Hi Amy,
Thank you for the explanation and sending along the link! As a prospective first time home buyer I have been keeping a close eye on the housing market. With many other countries already emerging from their recession, I'm also looking for signs that the US will follow suit. After visiting World Cafe site, I admit this article may not be the best fit for this community. Thank you for your understanding.
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Comment by Amy Lenzo on August 17, 2009 at 2:11pm
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Erik,
I forgot to give you the link to the World Cafe website, where you can find out more about it. Also, feel free to start a conversation in the Conversations and StoryNet tab here is you any questions for the community.
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Comment by Amy Lenzo on August 17, 2009 at 2:09pm
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Hi Erik.
Thanks for responding to Ulrich's question. You certainly haven't offended the community - you're very welcome here and whatever you are passionate about has a place here if it is in the spirit of dialogue and sharing. For example I would have liked to hear more about what YOU thought in relation to the article - why it was important to you, what it touched for you.
I don't want to speak for Ulrich, but this is a brand new community space and for me (as the site administrator) the concern is that we are able to make it a hospitable one for World Cafe practitioners and those who want to learn more about the World Cafe or are interested in the power of dialogue and large scale systems change.
Beginnings are always a delicate time, and what we do now will have a long-lasting impact on what comes later. We don't want to make this space just another FaceBook or we'll be missing a valuable opportunity to really create a World Cafe community of practice here.
So I hope you understand the spirit with which the question was asked, and know that you and your interests are welcome here.
You mentioned that perhaps you don't understand the purpose of the World Cafe and that makes me realize that perhaps we haven't made it clear what World Cafe is, or what this community is for. So, thank you for asking. The World Cafe is a way of having conversation that draws on design principles that are focused towards life. It is used in all sorts of sectors in many different countries, and is especially effective with very large groups. This community is for people who use the World Cafe in their work - to share what they're learning and gain inspiration from each other and to engage in meaningful conversation about things that matter.
I hope that helps give you some more context - and please don't hesitate to ask if you have questions.
Warm Wishes,
Amy
- Comment by Erik Keith on August 17, 2009 at 7:46am
- This was a story that I found interesting and wanted to share. According to the FAQ's community members are able to "articulate something that is important to them and may be of interest to others". Maybe I just don't understand the purpose of World Cafe. If this story is irrelevant, I can remove it as to not offend the community.
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Comment by Ulrich Soeder on August 17, 2009 at 12:29am
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Hi Erik,
what is the relation of this information to World Café?
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