US property dealers upbeat after Obama success

The USA property market should see a brighter future following the election of Barack Obama as president, industry professionals gathered in Florida have said this week.

Delegates at the National Association of Realtors (NAR) annual conference have told National Association of Estate Agents chief executive Peter Bolton King of their positive expectations for the market, reports the Times.

Mr Bolton King said some thought the market will gain simply because the political uncertainty is out of the way now the elections have passed, while some are optimistic that economic recovery will have a positive impact on house sales.

"Realtors believe that if the economy starts to stabilise, buyers will jump back in," he noted.

Research manager at Hamptons International Rob Bruce said Mr Obama would help create "the buyer confidence that the market is crying out for".

The NAR conference is being held in Orlando and is running from today until November 12th.