Contact Information: Contact Information: Dan Mahoney 970-405-8060 dmahoney@csg-pr.com
Falling House Prices in August Add Pressure to an Already Volatile Economy
IAS360 House Price Index Reports a National Decline of 0.2% for August
| Source: Integrated Asset Services
DENVER, CO--(Marketwire - October 14, 2008) - Integrated Asset Services, LLC (IAS,
www.iasreo.com), a leader in default management and residential collateral
valuation, today released its IAS360 House Price Index for August 2008. The
monthly report, which includes the most current and granular data available
in the industry, showed a 0.2 % decline in house prices on a national level
in August, and an 11.6% decline from August 2007 to August 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.
"As the economy continues to weaken, everyone is watching the housing
market for signs of a recovery," says Dave McCarthy, President and CEO of
Integrated Asset Services. "The IAS360 HPI's ability to gauge housing
volatility on a granular level and in a timely manner makes it the most
essential house price index available for investors, lenders and consumers
during these tumultuous times."
At the broader census region level, results for August show three out of
four U.S. Census regions experiencing declines in house prices, with only
the Northeast region continuing to show a marked improvement, up 1.3%.
Showing the most significant loss among the four census regions is the West
with a year-over-year double-digit decline of 18 %.
Results for the month of August at the census division level showed five
out of nine U.S. Census Divisions posting gains during August. New England
led the way with a 2.4% appreciation and Mountain, Middle Atlantic and West
South Central posting 1.1%, 0.4% and 0.2% appreciation respectively. That
said all nine census divisions posted declines year-over-year with Pacific
and Mountain divisions maintaining double-digit declines.
Integrated Asset Services
Leveraging real time data and nationwide resources, IAS' high-tech and
high-touch product line offers an unmatched level of detail in a rapidly
changing housing environment. IAS reports on "neighborhood" level house
price trends, residential market climate and collateral valuation. IAS also
provides a platform for REO Management and Disposition.
More information on these services can be found on the IAS website,
www.iasreo.com/cs.html.
REO Management:
http://www.iasreo.com/reo.html
Broker Price Opinions:
http://www.iasreo.com/bpo.html
Automated Valuation Models:
http://www.iasreo.com/avm.html
Market Volatility:
http://www.iasreo.com/imvi.html
Contact info@iasreo.com if you're interested in learning more about these
services.
Editor's Note: Additional IAS360 data and charts are available upon
request.
About Integrated Asset Services, LLC.
IAS (www.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. Due to the
timeliness of the data, the IAS360 House Price Index is subject to
revisions on a monthly basis.