Investors looking to buy property in the US should wait until the market hits rock bottom, it has been claimed.
Andrew Bartlett, owner of Andrew Bartlett Florida, has made the comments in light of the recent Standard and Poor's house price index for the country, which shows that there was a 0.2 per cent fall in house prices last December.
Falling house prices combined with an unfavourable exchange rate have meant investors have been staying away from the market in recent months and Mr Bartlett believes this trend could continue.
He said: "The bottom line is that there is a hell of a lot of inventory on the market and in that sort of situation I can't see how prices are going to necessarily increase very quickly.
"I'm not certain that any one area is necessarily going to go up any more than any other area at the moment."
However, despite his comments A Place in the Sun recently recommended Florida as being the second best destination for foreign investment in 2010.