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Consumer Confidence at Highest Level in Over a Decade

by Allison Simson

 

Two recently released reports reveal that the American public is starting to feel much better about the U.S. economy. The University of Michigan’s Surveys of Consumers showed that:

“Consumer optimism reached the highest level in the past decade in the January 2015 survey…Consumers judged prospects for the national economy as the best in a decade, with half of all consumers expecting the economic expansion will continue for another five years. The anticipated strength in the overall economy has been accompanied by more favorable income and employment expectations.”

Here is a chart showing results over the last decade:

 

As all consumers are feeling more optimistic, more young adults are moving out of their parents’ basements and into a residence of their own. The recent Census report shows that new household formations skyrocketed in 2014. Below is a chart showing the historical significance of the numbers:

Bottom Line

The economy is definitely improving and, more importantly, the American consumer is beginning to feel much more confident. This should lead to a very robust real estate market in 2015.

Real Estate Heading in the "Right Direction"

by Allison Simson

Real Estate Heading in the “Right Direction”

Real Estate Heading in the “Right Direction” | Keeping Current Matters

The housing market has taken a great turn toward recovery over the last few years. The opinions of the American public toward real estate took longer to recover, until recently.

For the first time since 2006, Americans have an overall positive view of real estate, giving the industry a 12% positive ranking in a Gallup poll.

Americans were asked to rate 24 different business sectors and industries on a five-point scale ranging from "very positive" to "very negative." The poll was first conducted in 2001, and has been used as an indicator of “Americans’ overall attitudes toward each industry”.

America's View on Real Estate | Keeping Current Matters

Americans’ view of the real estate industry worsened from 2003 to the -40% plummet of 2008.  Gallup offers some insight into the reason for decline:

Prices Dropped

“In late 2006, real estate prices in the U.S. began falling rapidly, and continued to drop. Many homeowners saw their home values plummet, likely contributing to real estate's image taking a hard hit.”

Housing Bubble

“The large drops in the positive images of banking and real estate in 2008 and 2009 reflect both industries' close ties to the recession, which was precipitated in large part because of the mortgage-related housing bubble.”

Bottom Line

“Although the image of real estate remains below the average of 24 industries Gallup has tracked, the sharp recovery from previous extreme low points suggests it is heading in the right direction.”

If the news of recovery has you considering homeownership, meet with a local real estate professional to discuss the opportunities that exist in today’s market.

Colorado Tops in Nation for Home Appreciation

by Denver Business Journal

Colorado Tops in Nation for Home Appreciation

 
BLOOMBERG Denver House For Sale
 
The prices for single-family homes rose faster in Colorado than they did anywhere else in the country, according to a new report by CoreLogic.

The year-over-year appreciation stood at 8.4 percent in December for the state, compared to 5 percent for the country as a whole, Inside Real Estate News reports. Texas was second to Colorado, with an increase of 7.8 percent.

CoreLogic found prices for homes in metro Denver posted a year-over-year increase of 9.81 percent, second only to Houston's 10 percent.

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Summit Real Estate
The Bright Choice
330 Dillon Ridge Way, Suite 10
Dillon CO 80435
970-468-6800
800-262-8442
Fax: 970-468-2195

Allison Simson, Owner/Broker, is a licensed Colorado Real Estate Broker