Coldwell Banker American Homes Blog
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10
Consumer Attitudes on Homeownership Improve in December
By Pete Bakel Americans' attitudes on a variety of issues are marginally better than one month ago, according to results from Fannie Mae's December National Housing Survey. Despite overall low levels of optimism among Americans, consumer sentiment trended in a positive direction in the final months of 2011. Americans who say the economy is on the right track rose by 6 percentage points since November, while the percentage who say the economy is on the wrong track dropped by 6 percentage points. When asked about housing, more Americans expect home prices to increase compared to November and, on average, Americans expect home prices to increase by 0.8 percent over the next year, up from an expected 0.2 percent increase last month. On the personal finance side, for the first time since February 2011 more respondents say their financial situation will get better over the next year than say it will stay the same. In turn, the share of consumers who say their income is significantly higher t...
10
Benefits of buying a home in the winter
Typically, home sales are strongest in the spring and summer months; however, there are several advantages to shopping for homes in the fall and winter. Sellers are often more motivated in the winter and may be willing to negotiate terms such as price, repairs, and even a closing date. The rule of thumb is that anyone braving the elements (or taking the time during the busy holiday season) to view a home is a serious buyer, and the same can be said for those who leave their homes on the market during this time and continue to have viewings. Fewer buyers in the marketplace during these months mean less competition and a better chance of getting a home at a lower price. Also, potential buyers in the winter months have the luxury of spending more time researching homes without as much concern of losing a house to another party. When viewing a home in the cooler months buyers get a realistic idea of a home's energy efficiency. Pay attention to the thermostat temperature and take note of an...
29
Consumer Confidence on the Rise?
Consumer confidence improved in November, rising 15 points and reaching its highest level since July. With consumers' view of business conditions perking up, and their opinion on job conditions brightening, positivity seeps into what has been a fairly negative past few months. The Index now stands at 56.0, up from 40.9 in October. The Present Situation Index increased to 38.3 from 27.1. The Expectations Index rose to 67.8 from 50.0. The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was November 15th. Says Lynn Franco, Director of The Conference Board Consumer Research Center: "Confidence has bounced back to levels last seen during the summer (July 2011, 59.2). Consumers' assessment of current conditions finally improved, after six months of steady declines. Consume...