December Confidence Index Released
The Conference Board released their December Consumer Confidence Index today. Although confidence in the economy hasn’t worsened (it’s actually up just a tick), consumers are still pessimistic about the future. How this continued malaise will affect the local housing market remains to be seen. In the past, whenever confidence dropped the number of sellers increased and the number of buyers decreased. So far, this has not occurred, locally. Obviously, homeowners in our area do not need or want to sell. Inventory of homes for sale has remained at an all-time low this year.