New build houses in USA selling at two-year high

Monday, October 29, 2012

New build houses in USA selling at two-year high

New build properties in the USA are selling at a two-year high according to a government report, as favourable market conditions mean domestic and international buyers are snapping up American homes.

Official figures released this week have revealed that an average of 389,000 new build properties were sold in the 12 months to September, up by 5.7 per cent compared to August's figures. These figures have not been so high since April 2010.

The number of houses being built in the USA has also hit a four-year high according to the data, showing confidence returning to the country's property market. With affordability still great for investors, mortgages more easy to secure, and investment potential riding high, now could be the perfect moment to make the conditions of the US property market work for you.

"All the housing data has taken a turn for the better," commented Steven Ricchiuto, chief economist for investment bank Mizuho Securities USA. "Clearly mortgage rates at such a low level and what appears to be an increase in banks' willingness to make loans has boosted activity."

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A Place In The Sun