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Us Real Estate Values Have Been Accelerating Strongly Of Late.
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 included show price gains with several cities topping 20 % in terms of increases.
Atlanta – where many big institutional investors are buying up REOs - was among those at the top of the chart with a 19.1 per cent increase, in a year.
Las Vegas posted a 20.6 per cent rise and Phoenix 22.5 %. Dallas, which is certainly attracting interest from both funds and overseas buyers, rose by just 6.8 per cent on the Case-Schiller statistics. The two Florida markets that the survey includes - Tampa and Miami - both posted gains of in excess of 10 per cent.
The Case-Schiller figures came at the same time that the total number of properties in some stateof foreclosurefellto 1.1 million, down from 1.5 million a year ago.
Foreclosures, though, were still running at 52,000 per month – at least twice the pre-crisis average.
Clearly the property sector is still transitioning from depressed to vibrant again.
But the trend is surely heading the right way with such robust and consistent increases being recorded.
It appears from this data that the bottom for the US real estate sector may have been some six to 12 months ago.
For those wanting to get in, 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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