US house prices rise quarter-on-quarter

The latest data published by Clear Capital shows that house prices in the US increased by 3.5 per cent in the third quarter of the year, compared to the previous three-month period.

However, the organisation noted that growth was weaker than earlier in the year, with residential real estate values posting a four per cent quarter-on-quarter rise in the three months from April to June.

Dr Alex Villacorta, director of research and analytics at the firm, commented: "The housing market has yet to demonstrate the fundamentals necessary to overcome a seasonal slowdown over the next six months."

As a result, Clear Capital expects US property values to fall by 1.6 per cent during the final quarter of the year and to have dropped by 3.1 per cent by March 2012.

In the most recent Global Property Guide house price index, the US was one of the nations to see the biggest price declines during the three months from April to June this year.

Compared to the same period in 2010, the country saw residential real estate values plummet by 9.05 per cent after inflation.
 

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