May 11, 2012
LPS reports first home-price increase since 2010
11 May 2012
Posted by Andrew Kantor
There are a lot of small indicators of a market turnaround, and LPS (that’s Lender Processing Services) has a new one: It’s Home Price Index — which is based on actual closings — was up 0.2 percent in February, and the company expects it to rise again in March by another 0.3 percent.
Small changes, to be sure, but as LPS VP Raj Dosaj points out, prices increased “for the first time since March 2010, and for only the third time in five years.”
He points out that in other years a spring increase is erased by a summer drop, so any optimism needs to be cautious. But it’s still another small point of light.