US undergoing housing market recovery
By Peter Mindenhall

US undergoing housing market recovery

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The US is undergoing a housing market recovery, after nearly four years of falling prices.

Reporting on Federal Housing Finance Agency figures, the Global Property Guide revealed that house prices are once again rising, with the index increasing 4.75 per cent during the year to August.

This is the largest annual growth recorded since September 2006, showing that real estate in the US is once again a stable property investment.

Demand is also returning to the market, with residential sales increasing and construction activity gaining momentum.

The delinquency rate is also stabilising and data has shown foreclosed home prices are rising rapidly.

In a recent Barclays Bank research note, the company commented: "We outlined our view that the recovery in housing was likely to broaden in 2012. What had been a narrow housing recovery driven by better multifamily start activity amid a strong rental market has been complemented by improved homebuilder sentiment."
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