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.
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