There are continuing signs that the USA property market is improving, according to the latest Standard & Poor’s/Case Shiller index.

The report shows that the average price of a residential property in USA appreciated by 0.4% in the 12 months to February – the first 12-month increase since July 2007.

Furthermore, a new report by Zillow reveals that USA property prices increased 0.5% from February to March, representing the largest monthly increase in almost six years.

“Home prices are slowly bottoming out,” says Steven Ricchiuto, chief economist of Mizuho Securities.

Zillow projects that no fewer than 19 of the 30 U.S. property markets that it covers will reach the bottom of the downturn this year.

The Florida property market is among those expected to lead the property recovery. Miami property prices, for instance, which posted a 0.6% month-on-month property price rise in February, are expected to rise by an average of 5.6% in 2012.

The Florida property market has endured significant price falls since the market crashed in 2008. But a hike in demand from domestics and international property investors and holiday homebuyers, attracted by rising property prices across parts of the sunshine state, is helping the market recovery.

Original Article Colin Murphy, Torcana.