The real estate market is tied into consumer confidence and sentiment. That is why it’s important to track the consumer confidence survey. The Conference Board Consumer Confidence Index® decreased in March, following an increase in February. The Index now stands at 127.7 (1985=100), down from 130.0 in February. Consumers’ assessment of current conditions declined slightly, with business conditions the primary reason for the moderation. Overall expectations remain quite favorable. Despite the modest retreat in confidence, index levels remain historically high and suggest further strong growth for the economy (and real estate sales) in the months ahead.
The real estate market is tied into consumer confidence and sentiment. That is why it’s important to track the consumer confidence survey. The Conference Board Consumer Confidence Index® increased in February, following a modest increase in January. The Index now stands at 130.8 (1985=100), up from 124.3 in January. Consumer confidence improved to its highest level since 2000 (Nov. 2000, 132.6) after a modest increase in January, Despite the recent stock market volatility, consumers expressed greater optimism about short-term prospects for business and labor market conditions, as well as their financial prospects. The proportion expecting more jobs in the months ahead increased from 18.7 percent to 21.6 percent.
Overall, consumers remain quite confident that the economy will continue expanding at a strong pace in the months ahead. Consumers’ outlook for the job market was also more positive. (Source: Consumer Confidence Survey)
The real estate market is driven by the emotions (and confidence) of home buyers. That’s why tracking the Consumer Confidence Index will give you an indicator of things to come in the future of real estate sales. The Consumer Confidence Index® decreased in December, following a modest improvement in November. The Index now stands at 122.1 (1985=100), down from 128.6 in November. The decline in confidence was fueled by a somewhat less optimistic outlook for business and job prospects in the coming months. Consumers’ assessment of current conditions, however, improved moderately. Despite the decline in confidence, consumers’ expectations remain at historically strong levels, suggesting economic growth will continue well into 2018.”
I predict the real estate market will stay steady yet may see prices increase at a slower pace.
Source: December 2017 Consumer Confidence Survey®
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Consumer confidence definitely affects the Real Estate Market and currently the Consumer Confidence Index is at 125.9, up from 120.6 in September. Consumer confidence is at its highest level in 17 years which was boosted by the job market. Confidence remains high among consumers and their expectations suggest the economy will continue expanding at a solid pace for the remainder of the year which proves that selling during the holidays can be a great idea because economic conditions are unknown for 2018.
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Consumer confidence can effect the real estate market and currently the Consumer Confidence Index is down .6 point which is nominal and consumers assessment of economic conditions remains favorable