Prices increasing in US states

Just over half of US states recorded a rise in home values during the fourth quarter of 2010 compared to the same period the previous year, those looking to buy property in the US may be interested to learn.

The results from the latest survey by the National Association of Realtors (NAR) suggest that the market is beginning to enter the recovery stage, with sales also posting improvements.

Speaking to Overseas Property Professional, Lawrence Yun, NAR chief economist, said that an improving housing market and job growth was helping to drive the resurgence.

"Home sales clearly recovered in the latter part of 2010 and are helping to absorb the inventory, including many distressed properties," he added.

"Even with foreclosures continuing to enter the inventory pipeline, they've been selling well and housing supplies have trended down. A recovery to normalcy requires steady trimming of the inventories."

It comes after the US Travel Association forecast that Florida, New York and California will be among the most popular destinations for travelling Brits this year.

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