Sales booster for US property detected

An indicator of future sales activity in the US has risen, it has been revealed.

The National Association of Realtors (Nar) has disclosed that its index of data for pending sales - where contracts have been signed but the transaction has not yet been confirmed - revealed a 2.1 per cent rise from 80.4 points to 82.1 points.

Such a finding may provide an indication that the next few months will see an actual rise in sales activity in the

market.

Nar also said that affordability had improved, the average mortgage repayments in the country costing 14.4 per cent of salaries, down from 14.5 per cent in January and 21.2 per cent in July 2008.

There has been optimism recently that the overall economy in the country will soon improve, with Federal Reserve chairman Ben Bernanke said last month the US could be out of recession by the end of this year.

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