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American Real Estate Comes To Life With Prices Rises Across The Country
Total Articles: 9
Recent Case-Schiller stats showeda price increase of 10.9 per cent across the US.
Case-Schiller’s survey saw all 20 markets featured show price gains with several markets bettering 20 per cent in terms of gains.
Atlanta – where many sizable institutional investors are buying up distressed homes - was among those at the very top of the table with a 19.1 per cent increase, in the year to April.
Las Vegas posted a 20.6 per cent rise and Phoenix 22.5 per cent. Dallas, which happens to be attracting interest from both funds and foreign buyers, rose by just 6.8 per cent on the Case-Schiller numbers. The two Florida markets that the survey includes - Tampa and Miami - both logged gains of more than 10 %.
The Case-Schiller figures came at the same time that the total number of properties in some stateof foreclosuredroppedto 1.1 million, down from 1.5 million a year ago.
Foreclosures, though, were still running at 52,000 a month – more than twice the average rate before the crisis.
This suggests a property market still going from sickness to health.
But the trend is surely heading the right way with such robust and consistent price rises being logged.
It appears going by this data that the bottom for the American housing market may have occurred some six to 12 months ago.
For those wanting to buy, with the upward trend there is significantly lessrisk of capital loss, although prices have risen somewhat from the bottom compressing rental yields.
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