Magazine article Mortgage Banking

National House Prices Up by 0.9 Percent for Month of April

Magazine article Mortgage Banking

National House Prices Up by 0.9 Percent for Month of April

Article excerpt

Integrated Asset Services [R] LLC, Denver, released its latest IAS360 [R] House Price Index on June 8, and the findings showed three of the four U.S. census regions registered gains for the month-long period ending April 30. The Northeast region broke with the trend and posted its eighth consecutive decline (-0.7 percent) for the month. Boston and New York, the largest metro areas in the region, both reported negative months for house prices in April.

With the gain in April, the index is down 23.9 percent from its high registered in July 2007, the company said. National home prices were up by 0.9 percent in the one-month period from March 2010 to April 2010. For the year ending in April, the IAS360 index showed national prices down by 2.8 percent.

All four U.S. census regions posted price declines in the yearlong period ending April 2010. During that period, the South saw the steepest drop in prices, with a decline of 4.2 percent. However, in the month of April, prices in the South region were up by 1.8 percent. Also, for the month of April, home prices were up by 1.9 percent in the Midwest region and up by 1.1 percent in the West region.

IAS360 readings show that the West region is down by 2. …

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