Have US house prices actually increased?
 

Have US house prices actually increased?

Wednesday, April 11, 2012. Ivan Radford @themovechannel

Reports of America's struggling housing market have seen house prices falling or staying stagnant for some time, with experts awaiting the market to bottom out. But two new reports suggest that contrary to this belief, US house prices have actually increased in the past three months.

Reports of America's struggling housing market have seen house prices falling or staying stagnant for some time, with experts awaiting the market to bottom out. But two new reports suggest that contrary to this belief, US house prices have actually increased in the past three months.

The first, produced by property portal Trulia, found that American real estate values jumped up by 1.4 per cent in the first quarter of 2012, a suggestion backed up by The Burns Home Value Index, which observed a price hike of 1.1 per cent between January and March.

The two reports differ from the more traditional surveys by tracking house prices in advance of transactions rather than reporting on values after the sales have been completed. The result is a real-time record of the housing market, albeit one that is less accurate than sales indexes because not all transactions are completed.

Nonetheless, the findings provide a striking contrast to other portrayals of the country's real estate. Indeed, they follow reports of increasing confidence among American agents, with AOL Real Estate highlighting a survey from HomeGain, which found that 37 per cent expected house prices to rise in the next six months, "up from 15 percent in the fourth quarter of 2011".

Regardless of which index you use to measure markets, the findings raise the question: is America's real estate recovery already underway?


Author - Dan Johnson

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