Consumer confidence - in jobs, the economy, and their financial position - has risen dramatically in the past month, as overall conditions continue to improve.
Confidence in real estate continues to grow too. We believe it - the available inventory of ready-to-move-into new homes is the lowest we've seen it in years.
What are you seeing?
Check out Raleigh inventory levels here: Triangle New Home Market Reports - scroll down for all areas.
Consumer Confidence & California Home Prices Rise, January 2010-Paradise CA Real Estate
It appears consumer confidence is on the rise after declining for most of 2009 according to RCB's Survey. Confidence is up 19 points since last month as measured by RBC indices. With CAR's reported increase in home prices, in California, consumers in the market to buy a home may be in a bit of a footrace. Of course as the saying goes real-estate-is-local. That having been said, American consumer confidence rose sharply this month, to the pre-financial crisis levels of, September 2008.
Here are some highlights of the January survey:
OVERALL EXPECTATION:
- Consumer Expectations Index stands at 67.6, up 27.2 points from last month.
JOBS:
- Americans’ confidence in the job market improved dramatically this month, up 16.5% to 67.9 – the largest single-month gain ever observed in the 8 year Index.
- Consumers’ sense of job security- according to the Index, 30% feel more confident about their job picture.
- Personal job loss experience improved in January, to 62% of consumers reporting job loss in their immediate circle, compared to the high of 71% last month.
ECONOMY:
- Currently, 38% of consumers believe their local economy will be stronger six months from now, up 3% from last month.
- 15% still believe in a weaking economy, down 4% from just a month ago.
- Current Conditions Index reached a 15-month high to 51.6, an increase of 14.6%
- Consumers rating their personal financial situation as strong increased to 25%.
- Americans’ rating their personal financial situation as weak held steady at 32%.
INVESTMENTS: Confidence in Investments rose 11.2 points to 58.1
- Consumers who feel confident about investing for the future held steady at 33%.
- Consumer comfort levels for investing in the stock market also edged up to 37%.
- Americans are also feeling more confident about investing in real estate.
- 44% of consumers believe the next month will be a good time to buy real estate.
source: RBC indexes, CAR.org
Buyers and Sellers Seeking Transaction Assistance with Paradise CA Real Estate Contact:
Phone: 530-370-1818 Email: steve@chainrealestate.net
SEARCH PARADISE REAL ESTATE SEARCH PARADISE INFORMATION
Chain Real Estate Investments & Mortgage
Steve Chain 530-347-6122 email: steve@chainrealestate.net
www.chainrealestate.net DRE: 01787156
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We have had a very active January and we are hoping this upswing will continue in Massachusetts and throught the country.
Penny, Thanks for the reblog! Your blog showed up in our Google Alerts connecting to the post. Active Rain blogs really get results.
Steve
Steve - thanks for highlighting some of the bright points from the month's news. Things are certainly improving!
Prices continue to decline in the Phoenix metro area. in some areas the Tax Assessor is predicting declines of 11 to 36% year over year!