According to a report from lender Freddie Mac, property prices in the USA will continue to strengthen in 2013 and are predicted to increase by two to three per cent. It also predicts that long-term mortgage rates will stay near record lows for the first half of next year before rising gradually in the second half, but remaining below four per cent.
In an encouragingly positive statement, the lender said that the last few months have brought a spate of favourable news on the US housing market with construction up, more property sales, and more home value growth turning positive. This is a big change from a year ago, when analysts worried that the looming shadow inventory would keep the housing market mired in an economic depression. Instead, the housing market is healing, is contributing positively to GDP and is returning to its traditional role of supporting the economic recovery.
In further proof that the property market is recovering, market analysts Zillow have revealed that many areas in the USA, such as The Bay Area (San Francisco), Las Vegas and Phoenix (Arizona) are now sellers’ markets, with overseas investors snapping up many properties within days of them going on the market.
Perhaps these are just some of reasons why the USA is predicted to be the most popular location of overseas property investment in 2013, followed by Asia and Western Europe, according to the findings of the Global Investor Sentiment Survey from Colliers International.
We continue to get a lot of interest from prospective investors who are thinking of buying a property in the USA. Top of the list is Florida, where property prices have fallen dramatically over the last few years. And if property is within easy travelling distance of the famous theme parks, year-round rental opportunities are good too.
