US Property Prices Continue to Strengthen

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The recovery of the US property market continues with news that figures now reveal the strongest price growth in more than seven years.

The rapid price growth is predicted to be maintained around levels of 5.5%, although some analysts think that prices could climb by more than 7%.

The National Association of Realtors report has shown that home sales increased 4.5% in January from last December, meaning transactions actually stand at over 9% higher than in January 2012.

The news marks the 21st consecutive month of annual increases and is the highest reading since April 2010.

Agents are now struggling to meet demand for property with a shrinking inventory pushing the recovery forward as a classic supply and demand situation engulfs the market.

House prices across the United States rose annually for the 15th month in a row in the first month of 2013 and predictions of more than 5 million existing home sales for the rest of the year show the domestic market to be in full flow once again.

The number of consumers who believe house prices will rise in the coming year now stands at a record high, indicating the kind of confidence that usually precedes positive market movement.

With many Americans still remaining pessimistic about the overall economic conditions in the country, any positive reactions to current property market moves can only be a good thing.

The relationship between sales activity and price rises is still a fragile one though, with continued increases in sales values being somewhat reliant on actual sales figures being relatively curtailed.

With no signs of a major move in new build investment, it looks like the amount of existing stock entering the market will be the deciding factor.

With the current fluctuations on the international money markets affecting the price of the pound in relation to the dollar, using a currency transfer specialist for any transactions is essential to achieving the best rates available.

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US Property Prices Continue to Strengthen

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