The volume of homes sold across some parts of the States has increased, following a record decline in U.S. home prices, according to the National Association of Realtors (NAR).
The NAR reports that the average price of a property successfully sold in the USA has fallen by 9.5% over the past year to $203,100 (£112,364), the largest price decline on records dating to 1999.
As prices descend, more purchasers are taking advantage of favourable negotiating conditions, especially in markets that have been severely affected by the credit crunch, such as Florida, Nevada and California.
Mike Larson, an analyst at Weiss Research, said: “Time and price are the real cures for the housing market slump.”
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