Currently: 1,716,337 Listings of Properties for Sale

US property prices at lowest level since 2002

US property prices at lowest level since 2002

US property prices at lowest level since 2002

By: Nick Marr -  Category: United States - Added: 2012-05-13


New research has found that the prices of property in the US have hit a ten year low.  However, many experts now believe that the market in the US has ‘bottomed out’, making it the perfect time to buy property in the USA.

If you’re considering buying an investment property or a second home in the US, keep reading for the latest opinions on the US property market.

House prices at lowest level since 2002

New figures from CoreLogic show that American house prices have fallen 7.4 per cent since October 2010.  This has led to a significant problem with negative equity in the country, with data showing that 11.1 million, or 22.8 per cent, of US residential properties with a mortgage are in negative equity.

According to the S&P/Case-Shiller 20-city price index, which tracks home values in 20 major US metropolitan areas, American house prices were down 3.5 per cent in February from a year earlier and are now at their lowest level since late 2002.

Analysts seeing small signs of improvement

However, despite these price falls, there is increasing optimism that the US housing market is set to begin its recovery with some analysts claiming there are small signs of improvement.

Four in five estate agents polled in a recent survey by RE/MAX do not expect house valuations to drop, while seven in 10 are hopeful that prices will increase in the near future.  Those questioned also said 20 per cent of buyers purchase their homes with cash, indicating that more US property is being bought by overseas investors.

Margaret Kelly, RE/MAX chief executive, said the market is ‘definitely heating up’ for real estate agents now.  She added: "They are witnessing a recovery across the country fuelled by homebuyers and sellers taking advantage of a significant market opportunity."


written by
Sun, sea and a strong pound
By:  -  Category: Spain - Added: 2014-12-12
Foreign buyers go back to Spain
By:  -  Category: Spain - Added: 2014-12-09
UK Stamp Duty reform could save £200m
By:  -  Category: United Kingdom - Added: 2014-12-08
Great green home energy tips
By:  -  Category: United Kingdom - Added: 2014-12-03
What the 2014 Autumn Statement could mean for you
By:  -  Category: United Kingdom - Added: 2014-12-02
Value of UK property tops £5 trillion
By:  -  Category: United Kingdom - Added: 2014-12-01
Miami property sales surge
By:  -  Category: United States - Added: 2014-11-26
US home sales up for first time since October 2013
By:  -  Category: United States - Added: 2014-11-24
French property tax "no cause for concern"
By:  -  Category: France - Added: 2014-11-21
Home sales edge higher in Canada
By:  -  Category: Canada - Added: 2014-11-19
UK lending caps weigh on seasonal slowdown
By:  -  Category: United Kingdom - Added: 2014-11-17
1 in 5 Brits would pay more for faster broadband
By:  -  Category: United Kingdom - Added: 2014-11-03
Cambridge leads UK house price rise
By:  -  Category: United Kingdom - Added: 2014-10-27
UK property sales cooling down?
By:  -  Category: United Kingdom - Added: 2014-10-03