Recently, the Conference Board reported the largest increase in consumer confidence. Economist expected to see a less than 2 percent increase, however on Tuesday May 26th the consumer confidence index rose to 54.9 in May from the low 40.8 in April. “The National Association of Realtors said existing home sales rose 2.9% in April to a seasonally adjusted annual rate of 4.68 million from 4.55 million in March.” In addition, the orders for durable goods items increased by 1.9% in April countering the 2.1% drop in March, despite the prediction of only a small 0.5% increase. May also noted the National initial claims for unemployment benefits decreased by 13,000 claims. In more good news, new home sales rose to 0.3%.
At SC Beach Real Estate we remain confident that this summer we will begin to see real estate sales increase and confidence will be restored to all consumer markets. Let’s stay positive and continue to hope for the best!
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