Monday, September 23, 2013

LPS: House Price Index increased 0.6% in July, Up 8.7% year-over-year

by Calculated Risk on 9/23/2013 10:16:00 AM

Notes: I follow several house price indexes (Case-Shiller, CoreLogic, LPS, Zillow, FHFA, FNC and more). The timing of different house prices indexes can be a little confusing. LPS uses June closings only (not a three month average like Case-Shiller or a weighted average like CoreLogic), excludes short sales and REOs, and is not seasonally adjusted.

From LPS: LPS Home Price Index Report: July Transactions, U.S. Home Prices Up 0.6 Percent for the Month; Up 8.7 Percent Year-Over-Year

Lender Processing Services ... today released its latest LPS Home Price Index (HPI) report, based on July 2013 residential real estate transactions. The LPS HPI combines the company’s extensive property and loan-level databases to produce a repeat sales analysis of home prices as of their transaction dates every month for each of more than 18,500 U.S. ZIP codes. The LPS HPI represents the price of non-distressed sales by taking into account price discounts for REO and short sales.
The LPS HPI is off 14.7% from the peak in June 2006. Note: The press release has data for the 20 largest states, and 40 MSAs. LPS shows prices off 46.1% from the peak in Las Vegas, off 38.8% in Orlando, and 36.7% off from the peak in Riverside-San Bernardino, CA (Inland Empire). Prices were at new peaks in Austin, Dallas, Denver, Houston and San Antonio.

Note: Case-Shiller for July will be released tomorrow.