April 5, 2007
Rising Consumer Confidence Boosts the Market
Rising Consumer Confidence Boosts the Market
If you're like most Americans, you're more satisfied with your job and economic situation now than you were six months ago. You're also more likely to buy a house, according to analysts who say that rising consumer confidence is painting a rosier picture for the real estate industry in 2007.
"Being secure about your financial future and having confidence is what it really takes to make a commitment on a big-ticket purchase," says Walter Maloney, a spokesman for the National Association of Realtors. "People want to feel good about the future — about their own personal situation — before they make that kind of a commitment."
A couple of surveys are designed specifically to measure the amount of confidence consumers have in the economy at any given time. One such survey, the Consumer Confidence Index, which surveys 5,000 households monthly, found that consumers were more satisfied with their economic situations at the beginning of 2007 than they were in 2006.
What is your opinion about the state of the real estate industry in 2007? Leave us your comment below.
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