US Real Estate market is poised in recovery mode.
13 November 2013
The US real estate market crash in 2008 has been well documented, however there are now some significantly strong indicators that the market is now exiting the downturn, and entering recovery mode.
According to the latest index from CoreLogic, prices have increased consecutively for 18 months, and are now 12% up year on year, indicating they are recovering well from the lows of 2008 and now close to their pre-peak levels.
US real estate prices are adjusting quickly after the crash, and therefore the market is recovering faster than expected according to the CoreLogic index, with home sales and property prices seeing double digit annual growth.
Mark Fleming, chief economist for CoreLogic said;
‘September marked the unofficial five year anniversary of the start of the housing crisis. The five year home price appreciation for all homes in the nation was 3.4%. While there is still room for improvement, the CoreLogic HPI is at the highest level since May 2008.’
As confidence continues to grow, statistics indicate the property market is poised at the start of another cycle, therefore making now an optimum time to invest in US real estate.