IAS Touts County Focus of New HPI

A house price index that purports to give the industry's "first clear representation" of U.S. housing market trends at a county level has been introduced by Integrated Asset Services LLC, Denver. The IAS360 House Price Index tracks monthly changes in the median sales price of detached single-family residences in more than 15,000 "neighborhoods" across the United States, the company said. The April data indicate "measurable improvements in some of the nation's hardest-hit areas" despite the fact that many areas are still in the throes of the credit crunch, IAS reported. For example, the Midwest "rebounded nicely" with a 5.90% gain in median sales prices, according to IAS. "Given the granularity, the methodology, and the timely monthly reporting of the IAS360, we are able to provide the market with early warning signs on housing price trends," said David McCarthy, president and chief executive officer of IAS. "When the housing markets are rosy, a 50,000-foot view may be acceptable. But when we are facing tumultuous markets, we need to go deeper to understand what is truly going on to make smart decisions." The company, a provider of default management and residential collateral valuation services, can be found online at http://www.iasreo.com.