Could we really be on the verge of a recovery or is this a false spring? Well, so far, evidence points at an imminent recovery. There has been a lot of talk about an economic rebound and glimmers of hope. Yet, there are still the "doom and gloom" talkers who warn about a false spring. Therefore, I thought it would be a good idea to list some positive signs of economic rebound in my blog.
Here are some positive signs you should look for in an economic rebound:
1. Consumer Confidence - As of now, the consumer confidence index shows a jump of over 12 points in the month of April to 39. This was the highest confidence report in 2009.
2. The Stock Market - Good news in our current stock market. The Wilshire 5000 ended its month at 8,9622.96 that's up 10.48%, the best monthly return since 1991. The S&P was also up 9.4% in April, which was its biggest monthly rally since 2000.
3. The Housing Market - Current government reports show that the overall number of housing stats fell in March. However, single-family homes were unchanged during that month from the same figures in February.
4. Single-Family Home Prices - Single-family home prices are finally starting to stabilize. There was a 3.2% increase in pending home sales in March, which has helped with the slight increase in home prices.
5. Orders and Exports - New orders are slow to pick up, but they are beginning to. However, new export orders have taken off with an increase of 44%.
6. Credit Markets - Banks are finally beginning to trust one another again and interest rates are lower than ever.
7. Jobless Benefit Claims - Although unemployment figures are still expected rise, there is hope in the unemployment insurance weekly claims report. Claims for unemployment aid are currently down.
8. Company Earnings - Many fortune 500 companies are reporting strong earnings. And, although, we can't depend on these strong earnings for a complete turnaround, they are a good sign.
While many of these signs point to an economic rebound, there is still a large gap that must be closed before the economy can completely heal. However, it looks like we are well on our way to a great start.
Realtor® Cheryl Westwood ~ Lake Havasu City Real Estate
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