Property prices in the USA increased by 0.9% during June, according to a leading monthly residential price report. This represents growth for a third consecutive month, after rises of 0.8% and 0.5% in May and April respectively.

The results of the report, by FNC Inc, cover new and existing home sales, however it doesn’t include foreclosures. Prices increased between 0.6% and 3.5% in areas such as Nashville, Detroit, Denver, Cleveland and Chicago but Boston was the clear winner with increases of around 9.1% during the first six months of 2011, compared with the same period of 2010. Property prices in Francisco, Minneapolis, Cincinnati, Columbus and Nashville have also fared well, with rises of between 4¬-5%. The same can’t be said for Las Vegas and Orlando however, which saw a decline in property prices of 5.9% and 4.1% respectively.

There is more good news though, as the National Association of Realtors reported that the number of sales is considerably higher than this time last year, despite still being below average. Chief economist for the association believes that although the market is underperforming in general, if mortgage standards return to normal there is no reason things can’t improve.

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