Signs of recovery for US property market

A statement from the National Association of Realtors (NAR) announcing a rise in pending home sales during last month indicates another step towards recovery for the USA real estate market.

Contract signings for residential real estate properties rose by more than 4 per cent from the previous month and is almost 13 per cent higher than the same month in 2011 – March saw the best results for almost two years.

USA real estate experts believe residential sales activity during 2012 will continue to strengthen following results of the first quarter sales which were recorded at the highest level for five years.

If sales continue to increase across the country house prices are expected to start to appreciate as stock supplies begin to diminish. Current levels of inventory remain fairly unstinted in most regions and a more even balance between supply and demand is likely to ensue.