Posted by: Larry Stevens | July 19, 2010

Consumer Confidence is High

Thank you for once again visiting my Boise Realtor blog! This real estate blog is just part of my outstanding Boise Idaho Real Estate services which I provide to help keep my visitors aware of news in the real estate market. Whether you are looking to buy a home in Boise or sell your current Idaho home I can help! Contact me to find out how a qualified Boise Realtor can help you – in the meantime enjoy reading this great real estate news about the latest market trends:

Consumer confidence plays a huge role in economic recovery, it’s a basic rule we all can understand: people just aren’t going to buy anything in an economy where they don’t feel safe – this holds especially true in the real estate market where such large amounts of finances are involved. A new national poll holds some encouraging new for the months ahead.

The survey was conducted by the Certified Financial Planning Board of Standards in early July, and involved interviews with a statistically representative sample of more than one thousands households.

This survey revealed that despite nervousness about the stock market and unemployment some 66 percent of all consumers believe the economy will hold steady or even improve over the next six months. Eighty-three percent believe their own personal finances will get better or at least hold as is.

According to researchers most consumers are looking for a “long and slow return to economic growth”, meaning slow gradual improvements in major sectors of our economy including home sales and real estate.

Does that slow and steady theme sound familiar (to anyone other than the tortoise or the hare) ?

Without a doubt it is old territory to real estate analists at MDA DataQuick in San Diego. Their latest report on the housing markets of Souther California describe a “continual slow crawl towards normalcy”.

It might seem sort of hard to get excited about that news, but despite its slow progress: it is in fact progress in the right direction even though home sales in that area only rose some seven percent.John Walsh, president of MDA DataQuick, said the market there is still “out of kilter” by historical standards – with lots of foreclosures and short sales acting as a restraint on prices. However despite all the challenges more money was spent last month in SoCal than in the past two years, and more money was also loaned for home mortgages.

This is highly significant as the six counties of southern California are often considered the “canaries in the mineshaft” for the housing markets nationwide. They were hit extremely hard during the recession and they still have a long way to bounce back, but it IS happening.

Meanwhile there are growing indications of similar patterns underway in other major markets around the country — even some gains in home values. According to Corelogic, a large real estate date company, found last week that prices on a national basis are now 2.9 percent higher than they were this same time last year, including distressed sales! Prices overall were up in 60 of the top 100 real estate markets nationwide which is a big change from a year ago when all 100 were negative.

There is hope! That light at the end of the tunnel just might not be a train after all! And while the increase of home prices and sales is good it should also be a signal to you, the prospective home buyer, in the fact that the historically low home prices you’ve been seeing may be slowly on their way out! NOW is the time to buy!

Don’t delay – buy your Idaho dreamhome today! Contact AA Realtors Boise to find the home you have been looking for quickly and easily and to find out the difference working with a professional Boise Realtor can make!

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