Consumer Confidence Rises In The Triangle Area

Last month consumer confidence soared across America, and in the Triangle area,  to the highest level seen in the past three years.  This means that Americans are more confident about where the economy is now and where it is headed.

The conference board measures consumer confidence on a monthly basis, and in the month of February, consumer confidence climbed 5.6 points to 70.4. Lynn Franco, director of the Conference Board's Consumer Research Center had to this to say about the increase, "The Consumer Confidence Index is now at a three-year high, due to growing optimism about the short-term future. Consumers' assessment of current business and labor market conditions has improved moderately, but still remains rather weak.”

The consumer index asked 5,000 individuals in a survey about how each felt in regards to the current economic conditions, and those that claimed that conditions were “good” went up 12.4 percent in February which is up from 11.3 percent in January.  Among the many questions asked on the survey, one focused on the availability of jobs and those that felt that jobs were “plentiful” increased to 4.9 percent in February; up from 4.6 percent in January.

Consumer confidence does have an impact on the housing market. Triangle residents who are confident in the economy and feel stable with their jobs are more likely to purchase or sell a home in the Triangle area. Now is the best time to buy a home with mortgage rates still at an all time low and while home prices are as affordable as ever.

If you are looking to buy or sell a home in the Triangle area, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are a lot of questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answer and would love to sit down for a confidential review of your options.