CoreLogic data shows that property prices rose 3.2% in the USA in April after a 2.2% rise registered in March.
A recovery for the US real estate sector could be very positive news for other markets around the world. Bernard Lambert, an economist at Pictet WM, says that the US property recovery could add 0.6% to the country’s GDP in 2014 and may kick-start a positive cycle of economic growth and in turn make credit more freely available.
This rise in house prices is increasing the wealth of US families. The increase was reportedly worth $1.4 trillion in 2012 and will probably be more this year, this could in turn re-activate consumer spending.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.