LPS Home Price Index Shows U.S. Home Prices Accelerated Their Decline to 1.0 Percent in December; Early Data Suggests 1.2 Percent Drop in January Likely

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JACKSONVILLE, Fla. – March 7, 2012 – Lender Processing Services, Inc. (NYSE: LPS), a leading provider of technology, data and analytics for the mortgage and real estate industries, today announced that its LPS Applied Analytics division updated its home price index (LPS HPI) with residential sales concluded during December 2011.
LPS also announced that beginning next month (transactions of January 2012), the report will be based on an updated view of market structure. “Following the real estate bubble, the proportion of short-sale transactions is much higher than historically observed. Other HPI suppliers have not updated their analyses in the face of increased short-sale transactions. Identifying and correctly accounting for short-sale price discounts produces an HPI that better represents non-distressed sales,” said Raj Dosaj, vice president of LPS Applied Analytics.

The LPS HPI national average home price for transactions during December 2011 reached a price level not seen since September 2002 (Figure 1, Table 1). This is the sixth consecutive month of price decreases. Average prices for November and December and the preliminary estimates for January and corresponding monthly changes are as follows:

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