Tag Archives: Consumer Confidence

Pessimistic views on the direction of the economy appears to be affecting consumer sentiment about the housing market.

The stormy days of the housing meltdown may have passed, but is it all calm waters ahead? The industry’s top economists foresee some unpredictable tides as 2016 approaches. Editor's note: This select print feature appears in the November 2015 edition of MReport magazine, available now.

Consumer confidence in the housing market declined slightly in October, while wages and salaries struggled and kept many from purchasing a home, according to Fannie Mae's Home Purchase Sentiment Index.

Consumer confidence in the housing market rose in September nearly to its record high, driven mostly by positive sellers' attitudes and home price strength.

Low mortgage rates and stronger consumer confidence are driving home sales and home prices upward, according to CoreLogic's July 2015 Home Price Index Report.

The U.S. Bureau of Labor Statistics Employment Summary released in early February reported an average hourly wage gain of 12 cents month-over-month, from $24.63 to $24.75. Still, U.S. Treasury Secretary Jacob Lew said after that report was released that more wage growth is needed in order for the economy, and hence the housing industry, to recover.

November's reading had been a disappointment for the Consumer Confidence Index following a post-recession high of 94.5 for October. The Present Situation Index jumped up to 98.6 in the latest reading from its November level of 93.7, while the Expectations Index fell slightly from 89.3 down to 88.5.

The Thomson Reuters/University of Michigan consumer sentiment index saw its fourth straight monthly gain last month, climbing to a reading of 88.8. The final index fell in between October's final value of 86.4 and a mid-month reading of 89.4 and was once again the highest level since July 2007.

The Conference Board's index of consumer confidence declined to 88.7 in the group's November reading, according to a report. The drop follows a bump of more than five points in October to a post-recession high of 94.5 (revised to 94.1 in the latest measure).

The Conference Board's Leading Economic Index (LEI), a measure of economic growth expectations for the coming months, increased 0.9 percent in October to a reading of 105.2, the group reported Thursday. The spike follows a 0.7 percent increase in September and a flat reading in August.