Contact Information: Contact Information: Dan Mahoney 970-405-8060 dmahoney@csg-pr.com
DENVER, CO--(Marketwire - August 12, 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 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 first table 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 second table 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,
www.iasreo.com/cs.html.
*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 (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's 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's 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.
