US property market 'will improve'

Despite uncertainty surrounding the long-term future of the US property market, there are signs that improvements are being made, one leading property website has suggested.

BuyAssociation claims that while prices across the country are likely to fall again in the short-term, the market will return to strength eventually.

The comments follow the release of the latest Standard & Poor's/Case-Shiller index which revealed that house prices in the US have reached a new post-recession low.

On average values dipped by 4.2 per cent in the first quarter of 2011, the figures show.

However, Paul Collins, editor at BuyAssociation, said "positive signs" such as recent unemployment data suggest that the US market could pick up.

"There are signs that there is a possibility of some sort of levelling out in the market and the ability for the market to start to recover. But that doesn't account for the possibility of further bad news coming down the line and dropping the market further," he said.

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