Tag Archives: Adam Cornwell

Time to buy property in America

imageAmerican property prices are finally on the way back up. Move now to bag the best bargains, says Graham Norwood

Say it softly. But after years of misery, it looks as if the housing market across the pond is at long last making a comeback. If you’ve ever dreamt of owning a Florida holiday villa, or a chic Sex and the City-style New York apartment, it might be wise to buy it soon.

The latest figures show the first green shoots for the wider economy and a housing recovery. In the past six months, 1.9 million American jobs have been created, and unemployment is down from 10.4 per cent to 8.3 per cent. Economic growth is running at an annual 2.8 per cent. The car industry, often seen as a good barometer, is booming – General Motors sold 640,000 more vehicles last year than in 2010.

This is beginning to translate into optimism in the housing market. One builder, MDC Holdings, has reported a 32 per cent rise in orders for new houses. Another, Beazer Homes, predicts more orders in 2012 than in 2011.

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