Desirable US property will not be staying on the market as long as it once did.

This is the opinion of Annette Reeve, director at Mayfair International Realty, who said there has been a "massive decrease" in housing stock levels.

She noted that estate agents across the country are much busier than last year and have a more positive outlook than they previously did.

"The feeling about the US at the moment - and the UK - is if there is a bit more [of a price fall] to come, it's probably not going to be massive. People have made a decision and they want to go for it. There is a lot of pent-up demand out there," Ms Reeve explained.

Quality, affordable properties in popular areas such as Florida are likely to be snapped up quickly, she added.

The Federal Housing Finance Agency reported earlier this month that seasonally adjusted US property values rose by 0.7 per cent between October and November 2009.

Written by Emily Sanders