Country: United States
29 July 2009
USA property prices appreciated by a seasonally-adjusted average of 0.9% between April and May 2009, according to data compiled by the Federal Housing Finance Agency (FHFA).
However, FHFA director James Lockhart said that it was too early to call the price rise a trend because the “revisions and volatility of the monthly index make it hard to draw any conclusions”.
Nevertheless, the news will be welcomed by American property industry, and is a further indicator that the US property market is nearing the bottom of cyclical downturn.
US treasury secretary, Tim Geithner, believes that the potential recovery of the USA property market could be related with a wider economic improvement
“We have a very good chance for seeing the US economy get back to the point where it’s going to start growing again in the next two or three quarters”, Geithner stated.
See Also: Marc Da-Silva, Overseas property investor news, USA
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