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Tag Archives: Confidence

Americans’ Feelings Mixed on Present, Future of Housing

Fannie Mae released Monday its most recent National Housing Survey, revealing a slight softening in the housing recovery as monthly indicators remain volatile. “The housing recovery continues to proceed in fits and starts,” said Doug Duncan, SVP and chief economist at Fannie Mae. “Rising mortgage rates and a lack of supply have dampened housing market momentum.”

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Home Prices Up 12.2% in February; Smaller Gains Predicted

According to CoreLogic's latest Home Price Index report, home prices nationwide rose 12.2 percent (including distressed sales) in February compared to the year prior. The change represents 24 months of consecutive yearly gains. On a monthly basis, home prices inched up 0.8 percent from January’s revised index. Moving forward, CoreLogic says indicators point to slower increases.

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Interest Rates Set Back Consumers’ Buying Plans

According to a report released by Thomson Reuters and the University of Michigan, consumer sentiment retreated last month to an index reading of 80.0, down 2 percent from February’s 81.6. The most immediate concern, according to the survey, is the ongoing slowdown in home value gains. Given the stall in price improvements and the increase in interest rates over the last year, plans to purchase homes are reportedly on the decline.

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Consumer Spending Measure Flat in February

Deloitte’s Consumer Spending Index was largely flat in February, seeing “only a marginal change” amid moderate economic growth, the professional services company reported. The index, which tracks consumer cash flow as an indicator of future spending, edged down slightly to 3.9 from a reading of 4.0 in January. “The fundamentals for consumer spending remain stable,” commented Daniel Bachman, senior U.S. economist for Deloitte.

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Interest in Homeownership Drives Optimism Among Millennials

According to the latest Home Index Survey released by PulteGroup, Inc., out of more than 1,000 consumers surveyed in February, a combined 74 percent feel the economy is either better off or the same as it was this time last year. Among respondents in Generation Y, more than half (54 percent) said the economy is in better shape now. What’s more 74 percent said now is a good or excellent time to buy the things they want or need—including homes.

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Builder Confidence Levels in March

After falling in February to the lowest level in nearly a year, builder confidence barely moved in March, the National Association of Home Builders (NAHB) revealed in its latest Housing Market Index (HMI). According to the group, the index nudged up one point this month, landing on a reading of 47—still a few points shy of the 50 benchmark that separates a market largely perceived as “bad” from one perceived as “good.”

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Consumer Attitudes Improve on Housing, Weaken on Economy

After starting the year on a low note, consumer attitudes toward housing brightened overall in February, according to Fannie Mae. That renewed confidence in home prices spurred a boost in those saying now is a good time to buy a home; that number was up 3 percentage points to 68 percent. At the same time, though, the share of respondents saying they think it would be easy for them to get a mortgage right now retreated from January's all-time high.

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Finance Execs Maintain Cautious Optimism for 2014

Out of more than 900 respondents to Fiserv’s 2014 Boardroom Series Outlook Survey, 50 percent expressed “somewhat” or “very optimistic” expectations for economic growth this year, with another 42 percent expecting the year to follow more or less the same track as 2013. A combined 9 percent said they are “somewhat” or “very pessimistic.”

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Consumer Sentiment Weathers February Chill

Days after the Conference Board recorded a downturn in consumer confidence, the University of Michigan and Thomson Reuters put out their own index, which suggested just the opposite. Surveys of Consumers’ Index of Consumer Sentiment picked up to 81.6 in February, a 0.5 percent month-over-month improvement and a gain of 5.2 percent year-over-year.

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Consumer Outlook Sours in February

The Conference Board’s Consumer Confidence Index fell from a revised 79.4 last month to 78.1 in the most recent release. The individual components making up the index were mixed, with the measure of current conditions rising nearly four points to 81.7 and the gauge of consumer expectations falling more than five points to 75.7.

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