Magazine article Mortgage Banking

IAS360 Shows Modest 1.1 Percent Home-Price Gain in Q2 2010

Magazine article Mortgage Banking

IAS360 Shows Modest 1.1 Percent Home-Price Gain in Q2 2010

Article excerpt

Denver-based Integrated Asset Services LLC released its latest IAS360[R] House Price Index on Aug. 10, and the findings showed weak but positive national price gains in the second quarter of 2010. The benchmark index for national house prices gained 1.1 percent during the period.

In a press release announcing the findings, IAS noted that home prices were helped by the federal tax credits for homebuyers, which have since expired. "I have to be impressed that the housing market, at least at the broad level, appears to have responded well to the government's homebuyer tax credits," said Ryan Tomazin, president of IAS. Tomazin added, "But down at the neighborhood level, I'm not so sure we've done anything but aggravate the foreclosure influences downstream."

With the modest gain in national prices posted in the second quarter, the IAS360 index is now down 16.7 percent from the peak touched during the first quarter of 2007. …

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