Consumers report heightened confidence in finances, housing markets nationwide improve
Posted on Monday, May 6, 2013 at 3:54:29 PM
With the national economy continuing to show real signs of recovery, consumers across the country may be feeling more secure in their financial stability, experiencing fewer worries associated with their savings and planning to apply for residential financing.
A recent Gallup poll reportedly found that 53 percent of Americans are currently highly or moderately worried about their finances - which is the lowest level exhibited since before the recession, when 45 percent answered similarly in 2007. The survey asked individuals how much they think they worry about seven financial issues, including retirement, housing costs and maintaining their current standard of living. Last year, the amount was seen at an all-time peak of 61 percent.
The latest Improving Markets Index (IMI) released by the National Association of Home Builders (NAHB) saw the inclusion of four new housing markets, and the removal of 19 - moving the total number to 258. The metropolitan areas Dothan, Alabama; Elizabethtown, Kentucky; Salisbury, Maryland; and Salem, Oregon were all added to the list in May.
Though more residential sectors were taken off than added this month, organization officials said they are content with the reading.
"While seasonal trends in home prices resulted in an overall decline in the IMI this month, the index remains at a very strong level and continues to represent markets in every state," said David Crowe, chief economist of NAHB.