property abroad prices in the us are rising
News Posted On: 14 May 2009
Now could be a good time to buy property in the US as prices are starting to increase, recent data has revealed.
The Altos 10-City Composite Index for April revealed that last month there was a 2.2 per cent increase in real estate prices across the country.
A 3.3 per cent increase could also be seen over the most recent three-month period.
California might be the destination of choice for many looking to buy property in the US, because prices rose 3.7 per cent in San Jose, 3.2 per cent in Los Angeles and 2.8 per cent in San Diego.
Stephen Bedikian, partner and research director for Real IQ, commented: "Broadly rising asking prices in this difficult economic environment demonstrate the powerful effect of seasonality in the housing industry."
The National Association of Realtors recently revealed that property prices in the metropolitan area of New York fell by 12.8 per cent in the first quarter of 2009, compared with the same period the year before.
This could make the city an attractive destination for property buyers looking for a bargain.
Written by Les Calvert
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