Regions of US property market showing signs of recovery

Long-term property investors to the US market will be pleased by news that the market is showing signs of recovery, it has been revealed.

Financial services technology provider Fiserv has predicted that some areas of the market could see prices recovering before the end of this year.

Fiserv chief economist David Stiff explained that the research which the company had carried out took into account a number of trends which had emerged in recent months.

These included growing sales towards the end of 2009 - something which Fiserv attribute to low mortgage interest rates and tax credits for first-time buyers.

"Our analysis projects that some markets are poised for a relatively fast recovery, including some areas that never experienced large declines in prices," Mr Stiff said.

Among the markets which could see the fastest return to normal levels include are Pittsburgh, Columbia, South Carolina, Texas, Washington and upstate New York.

However, the company did not paint a completely positive picture of the current market, claiming that some regions will not recover to the same level experienced before the crash until 2025.

Savvy property investors may wish to take advantage of the glut of foreclosed properties currently available in the country.

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