US market showing positive signs

Thu, 28 Jul 2011
International mortgage customers might be watching the market in the US with interest to use it as a gauge of when to buy.

According to Nubricks.com, the average increase in property prices across the country is good news for the industry.

It was referring to recent figures from Standard and Poor's and Case-Shiller, which showed that American house prices on the ten city composite index increased by 1.1 per cent in May.

However, they are still down by 3.6 per cent year-on-year, meaning the US market has some way to go before it is fully recovered.

Nubricks.com director Adam Samuel explained that values have fallen "considerably" since their peak and, while the new data appears promising, it is too early to accurately predict whether the recent positive news will develop into a long-term rise.

"A lot of people are looking around and a lot of people are searching, but in regards to actually putting their money down and investing in the US market, I would say that things have remained fairly consistent over the last 12 months," he said.
 
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