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US property market ‘strengthening’

February 27th, 2012

Strength is beginning to return to the property market in the US, according to Mayfair International Realty.

Figures from the National Association of Realtors highlighted recently that sales of existing homes in the US increased in January, marking the third gain in four months.

At a seasonally-adjusted annual rate, sales increased 4.3 per cent to 4.57 million from 4.38 million in December.

Annette Reeve, director at Mayfair International Realty, said the people she has spoken to suggest the market is “definitely picking up” as people realise “life has to go on” following the property crash in 2007.

“They are therefore feeling that they might as well launch into property now, even if they end up sitting on it before it does anything. People’s money is now favouring bricks and mortar,” Ms Reeve explained.

She added that while the generally feeling is that the market has hit bottom, people are still researching very carefully before they purchase a property.

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