U.S. real estate prices reached a record high in the last two years

29.09.2012 00:15
Articles about real estate | U.S. real estate prices reached a record high in the last two years Summer sales rise helped domestic real estate market finally confirmed after the fall, which took place five years ago. In July 2012, the price of real estate in major cities in the U.S. for the fourth consecutive time increased from the previous month - this time by 1.6% - allowing the experts to believe that the threat of falling prices finally over, says Shreveport Times. David M. Blitzer, chairman of S & P Dow Jones Indices, argues that not only the prices are rising, but the pace of sales and the number of foreclosures for debt reduced.

At the same time, despite the forecasts of experts, who promised the excess supply, the rate of housing construction slowed. Wealthy investors have bought depreciating during housing crisis, leaving the deficit in the market - in the highly competitive prices went up.

Related article: How not to «get» when buying real estate abroad?

Atlanta saw the largest rise in prices in the last month - 2.6%, while the cost of housing there remained 9.9% lower than a year earlier. The most significant price increases over the past year was recorded in Phoenix, where real estate has risen by 16.6%.

According to the latest data, the index of consumer confidence rose in September: the buyers are optimistic about the property market and development trends in the short term.
Content tags: Overseas property
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