Based on The Conference Board Consumer Confidence Index, Americans are feeling very positive about the economic forecast. In fact, consumer confidence in July, 2014, hit its highest level since October, 2007!
According to Lynn Franco, Director of Economic Indicators at The Conference Board, “Consumer confidence increased for the third consecutive month and is now at its highest level since October, 2007. Strong job growth helped boost consumers’ assessment of current conditions, while brighter short-term outlooks for the economy and jobs, and to a lesser extent personal income, drove the gain in expectations. Recent improvements in consumer confidence, in particular expectations, suggest the recent strengthening in growth is likely to continue into the second half of this year.”
With consumer confidence brings purchasing confidence, which can translate into higher real estate activity. Lawrence Yun, National Association of REALTORS Chief Economist, predicts a slight uptick in sales during this second half of the year. “The good news is that price appreciation has decreased to its slowest pace since March 2012 behind much needed increases in inventory.” He adds, “With rents rising 4 percent annually, potential buyers are less likely to experience sticker shock and can make smart decisions on whether or not it makes sense to buy or continue renting.”
Wondering what the market mood is like in your neighborhood? Call me today at 609-462-3737 for your no-obligation neighborhood update! And remember, up to the minute West Windsor real estate information is always available at West-Windsor-Homes-NJ.com or Facebook.com/West.Windsor.Homes.NJ.
