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Economic confidence may be housing’s buoy

Mar 17, 2017
Consumers are getting more confident about the economy and their finances, and that could bode well for the real estate market, according to the National Association of REALTORS’ latest Housing Opportunities and Market Experience (HOME) survey. The share of households who say the economy is improving surged to its highest share in the survey’s five-quarter history, reaching 62 percent (up from 48 percent a year ago). 

Households are also feeling more confident about their finances. Respondents in the HOME survey reported confidence that their financial outlook will improve over the next six months. Financial confidence is at the highest levels in the survey’s history (reaching 62.6 on the index in March, up from a 58.1 reading a year ago).

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Buyer demand drives median price growth as fewer homes available for sale in New York State

Strong buyer demand, coupled with the ongoing decline in the number of homes for sale, fueled a 7.8 percent increase in the April statewide median sales price. Click here to read more.

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