As we have written about in the past, there are many issues to follow to get a sense of the housing market. On a more macro-level, understanding the consumer is important on the demand side of the market.
We have identified consumer confidence and the job market as two key areas to follow. The recent trend does not show promise for a turnaround the US housing market.
Consumer confidence fell to a seven-month low in June 2011. As the Chairman of America's Research Group indicated, "Americans still feel like they're in a recession." The Conference Board's Consumer Confidence Index was 58.5 in June 2011, down from 61.7 in May 2011. A reading of 90 indicates a relatively healthy economy.
A large reason most Americans feel like the recession is still with us is because of the second factor we discussed-- the job market. The unemployment rate continues to hold in the low 9.0% range and has inched up recently. Americans are still worried about their jobs and the prospects of landing a new job. Stagnant wages are also a concern for workers in the United States.
With out the feeling of job stability or good prospects of landing a new job in the near future, we think it is unlikely the US housing market will show any robust growth in the next six months.
However, it remains a buyer's market and those who are qualified can take advantage of the imbalance between supply and demand in the market.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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