Property abroad boost as US house prices show new improvement
House prices in the largest US cities have risen continually over the last half year, a new survey has shown.
The S&P/Case-Shiller Home Price Indices has produced half a year of positive readings with figures for July indicating that in both the ten-city and 20-city indicators the annual rate of price decline fell.
In addition to this, 18 of the 20 largest metropolitan areas saw prices up in July and for 13 of them this was at least the third successive month when values jumped.
Commenting on the findings, chairman of the Standard and Poors Index Committee David Blitzer remarked: "The rate of annual decline in home price values continues to decelerate and we now seem to be witnessing some sustained monthly increases across many of the markets."
Such a trend may encourage those keen to invest in property abroad and who are considering the US as a destination.
Earlier this week, the National Association of Realtors revealed that the total of new homes sales in the country in August was 3.4 per cent more than in the same month in 2008.
Written by Jamie Musk