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June 2017   Volume 43, Number 6      
 

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NAR Survey Finds Increase in Consumer Confidence in the Midwest and Rural Areas

President Donald Trump may have experienced sagging poll numbers since taking office in January, but his election appears to have lifted the spirits of a core group of his supporters when it comes to real estate and the economy. According to a new consumer survey from the National Association of Realtors, consumers in rural and middle America are convinced the best is yet to come in 2017.

In NAR’s ongoing quarterly Housing Opportunities and Market Experience (HOME) survey 1, respondents were asked about their confidence in the U.S. economy and their housing expectations. For the first quarter of 2017, the number of households who believe the economy is improving increased to its highest share in the survey’s five-quarter history (62 percent), up from 54 percent last quarter and 48 percent in March 2016.

The surge in positive sentiment about the economy was primarily from respondents living in the Midwest (67 percent; 51 percent last quarter) and rural areas (63 percent; 43 percent last quarter). In March 2016, only 49 percent of Midwesterners and 35 percent of those living in rural areas thought that the economy was improving.

“Stronger business and consumer morale typically lead to even more hiring and spending, which in turn encourages more households to make big decisions like buying a home. These positive developments would be especially good news for prospective homebuyers in the more affordable Midwest region.” said NAR Chief Economist Lawrence Yun.

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In this issue:

Virtual Reality Shakes Up Real Estate

All-cash Chinese Buyers Disappearing From U.S. Real Estate Markets

Consumer Confidence Falls after Record High

Immigrant Households Impact Success of Real Estate Market

Multifamily Construction Loans Are Getting Harder for Developers to Find

Survey NAR Survey Finds Increase in Consumer Confidence in the Midwest and Rural Areas

Purchases of Vacation Homes Declined for Second Straight Year in 2016

Rising Home Prices Drive Up Homeowner Debt

The 10 States Investing the Most in Commercial Real Estate

How Sellers Can Avoid the Downsides of Hot Real Estate Markets


 


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