A US economist has predicted that the end of the property USA slump is nearing.

Henry Spelter, who works for the US Forest Service’s Forest Products Laboratory, said in a report paper that the crisis is "closer to the end than the beginning", the Vancouver Sun reports.

Freer flows of credit, incomes keeping pace with prices and a broader economic recovery are the key factors that will aid recovery, he stated.

Such a prediction may suggest that the property USA scene is close to a turning point, meaning those who buy now may be doing so near the bottom of the market.

Meanwhile, new research has found that the level of new build housing sale decline in the twin cities of Minneapolis and St Pauls in the US is at one of its lowest levels since 2005.

Researcher Ryan Jones of demographic research firm Metrostudy said that figures revealed a total of 7,444 new homes being sold in the Minnesota conurbation during the 12 months to September 2008.

While this was down on the previous year, Mr Jones noted: "It is one of the mildest year-over-year declines recorded since 2005."

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