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Tag Archives: Confidence

Economic Concerns Weigh on May Housing Confidence

Consumers' attitudes about housing diminished somewhat last month as economic worries weighed on their minds, according to new survey results from Fannie Mae. "While recent housing activity suggests that the worst of the housing slump may be behind us, this caution among consumers supports our expectation that the rebound in home sales will likely be too modest to pull sales for all of 2014 ahead of last year," Doug Duncan, chief economist.

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Majority of Americans Believe Housing Crisis Isn’t Over

In its second annual survey of housing attitudes, the MacArthur Foundation found 51 percent of American consumers still believe the country is in the midst of its housing crisis, while another 19 percent believe the worst is yet to come. Only 25 percent said they believe "the housing crisis is pretty much over." At least part of that pessimism stems from challenges related to housing affordability in today's economy.

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Construction Spending Climbs 0.2% in April

The Department of Commerce estimates overall construction outlays came to a seasonally adjusted annual rate of $953.5 billion in April, just up from March's revised $951.6 billion (originally reported at $942.5 billion). Despite the small increase, the gain brought spending levels up to their highest since March 2009.

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Consumer Confidence Improves with Payroll Gains

After dipping in April, the Conference Board's Consumer Confidence Index saw modest improvement in May as optimism for the job market grew. The index rebounded to 83.0 in the latest reading, up from a downwardly revised 81.7 in April, the group reported Tuesday.

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Housing Starts Rise on Multifamily Spike

According to the Commerce Department and HUD, privately owned housing starts last month were at an estimated seasonally adjusted annual rate of 1.07 million, representing a 13.2 percent jump from March’s barely revised pace of 947,000. Unfortunately for the supply-constrained single-family market, most of that spike came in apartment buildings.

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Disappointing Sales Knock Down Builder Confidence

The National Association of Home Builders (NAHB) released Thursday its Housing Market Index (HMI) for May, reporting another slip in builder confidence as single-family home sales continue to disappoint. The index, a gauge of homebuilder sentiment toward the single-family housing market, dropped to 45 from a downwardly revised reading of 46 in April. A score below 50 indicates a market viewed by more builders as “poor” rather than “good.”

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As Sellers Gain Confidence, They Engage in ‘Risky’ Pricing Approach

As home sellers become more confident in the housing market, many are taking on what Redfin calls a “risky pricing strategy,” according to the online real estate brokerage’s latest survey. A little more than 40 percent of home sellers plan to price their homes above market value, Redfin’s data shows. Regardless of this bolstered confidence, Redfin warns overpricing a home is not a wise strategy in today’s market.

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Builder Confidence Still Tepid

The National Association of Home Builders (NAHB) reported a one-point increase in its monthly Housing Market Index (HMI), a measure of builders’ confidence in the market for newly constructed single-family homes. March’s index was revised down to 46 from an originally reported 47. Registering 47 as of the latest release, the index has now spent three straight months below 50, the threshold between a market viewed largely as “good” and one viewed as “bad.”

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Consumer Confidence Heads Toward Long-Term Norm

Consumer confidence reached a four-month high in April, according to the University of Michigan’s preliminary measure of consumer sentiment for the month. After taking a hit in March, the index rebounded to 82.6 in April, prompting one analytics firm to anticipate a possible return in consumer confidence to a long-term normal of 85. The university also measures current conditions and expectations, finding upticks in both this month.

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