National home prices gained a fraction in April, the first non-declining numbers in nearly a year for Integrated Asset Services' monthly IAS360(TM) House Price Index.
On a year-over-year basis, U.S. house prices are still down 13.0%, but the volatility of the trend line is less than the previous year, a critical point to industry analysts the valuation firm said. Three of the four U.S. census regions were stable to positive for April. Only the South, which includes several particularly hard-hit Florida communities, was down for the month (0.3%); however, the mild loss also marked an improvement.
"It's too soon to call this a turn in the housing market, particularly given all the political and regulatory uncertainties," said IAS President/CEO Dave McCarthy. "I think that we're still in for some difficult spells ahead, but we are seeing a certain kind of pricing equilibrium in several important markets. That's encouraging for the long term."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
