US housing recovery continues an upward swing according to latest statistics from Bloomberg. It indicated a sustained appreciation in home prices for the third quarter of the year. Full Report here
It however showed a decline in available stock of rentable housing units, which also puts an upward pressure on rents.
This of course is good news for the investor who will continue to get good appreciation in investment properties in the coming months.
Although this recovery is across all markets of the US, mid western states appear to enjoy the highest recovery rates. Incidentally, most mid western markets were not the worst hit by the 2008 economic crisis as the value loss was only 37% on the average. Worst hit markets saw over 75% loss in value and 40-75% foreclosure rates. See details here
With this sustained recovery and strong economic growth in the real sector, coupled with new job additions, the prospects for real estate investment appear very bright.