IAS360 HPI Rose 0.9% in July

The IAS360 House Price Index rose 0.9% on a national level in July, but was 11.4% below the level recorded a year earlier, according to Integrated Asset Services LLC, Denver. The index tracks monthly changes in the median sales price of detached single-family residences in "neighborhoods" in 360 counties across the United States, the company said. Three of the four U.S. regions designated by the index posted increases in July, with only the West showing a continued decline (0.7%), IAS reported. The increases in the other regions were 3.1% in the Midwest, 1.7% in the South, and 1.6% in the Northeast. "The IAS360 HPI is unique in that it's not a seasonally adjusted or smoothed index," said Dave McCarthy, president and chief executive officer of IAS. "This, combined with its timeliness and granularity, gives lenders, investors, and consumers a peek at the raw changes in home price forecasts from the front lines." The company, a provider of default management and residential collateral valuation services, can be found online at http://www.iasreo.com.