DENVER – During the 12-month period ending Feb. 28, the price of a house in New England fell 25.5 percent, the highest drop of any U.S. Census region and more than 10 percentage points above the national 14.4 percent drop, according to data released today by Integrated Asset Services, a housing price tracker.
And while national housing prices fell 3 percent in February compared with January, prices fell in New England by 11.2 percent, according to the report. The next greatest regional drop was a 3.3 percent fall in the South Atlantic census region.
Housing prices fell in all census regions but the West North Central – North Dakota, South Dakota, Minnesota, Iowa, Missouri, Nebraska and Kansas. That region’s prices rose by 2 percent in February.
IAS President and CEO Dave McCarthy said in a statement this morning that there has been “no indication of a positive turn in the housing markets we track – if anything the rate of decline in some areas has increased.”
“Because we use the most current data available in the market place… [we] will be the first to see a turnaround – when it occurs,” he added.
The monthly IAS360 House Price Index tracks residential prices in 360 counties, about 11.4 percent of the counties listed by the U.S. Department of the Interior.
A privately-held Colorado corporation, Integrated Asset Services LLC offers mortgage servicing, real estate asset management consulting and property data tracking. For additional information, visit www.iasreo.com.
