Aucklanders viewing properties elsewhere
27th Jun
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Ph 0800 828 222
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Mid last year American Business and Financial news magazine Reuters examined the current state of the U.S. housing market. Although they found that home re-sales had shown a bit of a slowdown in March, they attributed this more to supply constraints than reduced demand. The housing market recovery that has been aiding to boost the economy remains intact, they said. New York economist Millan Mulraine supported this, noting, "the overall thrust of the sector remains positive, with the demand and supply dynamics continuing to favour further price gains".
Recent figures showed that sales were still up 10.3 percent from a year previous and that the median home price had increased by 11.8 percent. An increase this large was last seen in November 2005. Investors seem conscious of these changes and are snapping up the last of the properties at drastically reduced prices; the number available on the market has started to dwindle significantly.