Real estate prices remain flat in US

Forecasters suggest the USA real estate markets are close to hitting bottom and house price direction is likely to vary across the country.

The results of a residential real estate market report have led many experts to predict a time of stability for many local markets across the States. House prices on a national level increased by just over 0.5 per cent in March from February – said to be the largest monthly increase for almost six years.

Zillow economists surveyed 30 metro areas and believe that two thirds of these markets have already hit bottom or are likely to within the next twelve months.

Three areas tipped to see considerable price appreciation during the coming months are Phoenix, Miami-Fort Lauderdale and Tampa at the other end of the scale price depreciation is expected to affect the Atlanta metro and the Chicago metro.

USA real estate experts believe that any potential buyers holding out for the market to bottom before making a house purchase ought to be prepared to make a move in the next few months.