Quality homes in the US 'won't stay on the market for long'

Property investors looking to buy homes in the US have been advised not to hang around.

Annette Reeve, director at Mayfair International Realty, has said that quality, affordable housing in the country is unlikely to be staying on the market this year as was the case in 2009.

"People have made a decision and they want to go for it. There is a lot of pent-up demand out there," she noted.

"The feeling about the US at the moment - and the UK - is if there is a bit more [of a price fall] to come, it's probably not going to be massive."

However, Ms Reeve did comment that, despite the record amount of foreclosures in the country, it was unlikely investors would be able to choose from the masses of stock that were around a year ago.

The Federal Housing Finance Agency has reported that seasonally-adjusted US house prices had risen by 0.7 per cent between October and November 2009.

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