Bring on the buyers

By
Real Estate Broker/Owner with Summit Realty Group, Inc.

 

 

Daily Real Estate News  |  March 26, 2008More Consumers Ponder Home Purchase
The number of consumers who say they plan to buy a home in the next six months rose slightly this month to 3.3 percent from 2.9 percent, despite an overall drop in consumer confidence.

According to a survey by the Conference Board, a private research group, consumer confidence fell 11.9 points to 64.5, marking a downturn in sentiment to levels usually seen only during recessions.

Consumer expectations about the future plunged to their lowest point since 1973, when a recession was followed by painful inflation.

Consumers expect inflation to reach 6.1 percent in the next year, the highest rate since the aftermath of Hurricane Katrina in 2005, when gasoline prices surged.

"We've been seeing a gradual trend upward since the end of last year, and it's following in line with oil, gas and food prices," said Lynn Franco, who oversees the Conference Board survey.
Source: The Wall Street Journal, Sudeep Reddy (03/26/2008)

Comments (1)

Tom Davis
Harrington ERA,DE Homes For Sale, $$ Save $$ Buy Today ! - Dover, DE
FREE Delaware Homes Search!, $$ Save $$ - Find Homes! Delaware Realtor

I think consumer confidence would go back up if Gas Prices Dropped a dollar or more...Why should we be Paying $3.28 A Gallon???  America is hurting right now and Greed has kicked in for some folks.  I think gas needs to go down to $2.28 or $2.00 a gallon.  I think being reasonable with prices is the best way to help the economy.  This is plain crazy!  America is hurting here!!  Anyone else with me on this???!

Tom Davis - A Realtor Who is concerned about Gas Prices In Delaware !

Mar 30, 2008 09:12 AM