READY TO BUY

Consumer confidence may be down, but the number of consumers who say they plan to buy a home in the next six months rose slightly in March to 3.3 percent from 2.9 percent, according to a survey by The Conference Board, a private research group. Consumers also expect inflation to eat away at their budgets, though that could also make money spent today a relative bargain. According to the Board, consumers expect inflation to reach 6.1 percent in the next year, the highest rate since the aftermath of Hurricane Katrina in 2005, when gasoline prices surged. “We’ve been seeing a gradual trend upward since the end of last year, and it’s following in line with oil, gas and food prices,” says Lynn Franco, who oversees the Conference Board survey.

Source: The Wall Street Journal, Sudeep Reddy (03/26/2008)
© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688

Questions, comments or suggestions on this article? Have a news tip? Send a letter to the editor to: Newseditor@floridarealtors.org.