Moody's Analytics will begin offering Lender Processing Services, Inc Home Price Index (HPI), which shows historical price trends for residential properties in the U.S.
The LPS HPI home price index tracks REO discounts down to the ZIP code level. These are used in the HPI analysis to correct for distortions that otherwise occur when REO sales are included in price-data analyses. The LPS HPI also reports these discounts to support better estimates of sales prices on REO properties.
The LPS HPI can aid market participants to determine the impact REO sales have on individual markets, allowing non-distressed and distressed property values to be estimated.
Moody's Analytics will offer the LPS HPI through its data delivery platform, DataBuffet, to clients who depend on or are exposed to housing markets, such as lenders, commercial banks, residential mortgage-backed security (RMBS) market participants, insurance firms and government institutions.
"The LPS HPI is a strong addition to our comprehensive repository of data on the U.S. housing market," said Karl Zandi, managing director of Data Services at Moody's Analytics. "Housing is a key component of the U.S. economy and, in this fast-changing environment, having a house price index that is updated frequently and has broad coverage is very important."