Consumer confidence hits a plateau
Posted on Tuesday, June 12, 2012 at 4:42:39 PM
After months of positive momentum in the housing market and job growth, consumer confidence has hit a plateau. According to Fannie Mae’s May 2012 National Housing Survey, trends are showing income and employment growth has hit a lull, making Americans wary of large purchases.
"Our May consumer data show that Americans are taking a 'wait and see' approach about buying or selling a home. This is not surprising given their assessment that their income during the past twelve months and their personal financial expectation for the next twelve have leveled off," said Doug Duncan, vice president and chief economist of Fannie Mae.
The survey reports that national data is largely reflecting what housing experts are witnessing on a macroeconomic front. Yet despite the lull in confidence levels and economic growth, a potential homeowner may want to buy new property. These conditions help improve a buyer's bargaining power. Check out residential financing options to determine if buying a home in the near future is a possibility. The local metro conditions may impact the buyers’ market that is cropping up across the nation.