New figures have shown that house prices across America rose by 2% in July of this year in annual and quarterly terms, with properties on the West Coast leading the way in the property revival that is showing sustained signs of recovery.
Speaking about the news, the director of research and analytics at Clear Capital, Alex Villacorta, said: "July home price trends continued to show promise at a time when the strength in the broader economy is in question on many fronts. The national housing market defied the drag of a softening economy with increasing gains of 2% over the last rolling quarter. Housing gains in the West continued to lead the nation, and more importantly, for the second month in a row, the price rebound has broken out of the low price tier segments into higher priced homes." He added that the expanding pool of buyers sees the West well positioned for the next phase of recovery.
There have now been rolling quarterly growth figures posted for two months in a row in two out of the four regions in the country. Growth nationally has been higher than expected with a posted figure of 2.2% in July, which was 0.5% higher than the figure seen in June of this year. Prices in the West are up a massive 6.2% when compared to the same figures from 12 months previously, while the South and Northeast are also helping to boost the market nationally. They posted growths of 1.8% and 1.6% respectively over the year.
