Figures released for the month for June have shown the US housing market has continued its march along the road to recovery. Sales were up 1.7% both over year-on-year and quarter-on-quarter.
Commenting on the results, Dr Alex Villacorta, who is the director of research and analytics at one of the leading property organizations in the country, Clear Capital, said: “Looking forward over the rest of 2012, we expect to see national, regional and most metro markets improve by varying degrees," before going on to add that the market is currently "the strongest it's been since the start of the downturn".
The west of the country saw the largest growth in house prices over the last quarter, posting a 3.5% gain, with the south of the US coming in second with a rise of 1.5%. The mid-west also saw a rise in property prices, with the average price rising by 1.2%. Even in the north-east, where the gains were somewhat smaller, the 0.8% rise still means that the market is continuing to head in the right direction.
As if this was not enough good news for the market, the National Association of Realtors was able to announce that in addition to house prices rising there was an increase in the number of properties which were made available for sale during the month of May across the country, indicating that all areas of the property and housing market are starting to pick up after what has been a lengthy downturn lasting since the recession began.