Consumer confidence at 5 year highPosted: Updated:
PHOENIX -- There is encouraging news when it comes to consumer confidence. It is at its highest level in more than five years.
A survey conducted by a research firm indicates that consumers have a positive outlook on our current market conditions and a positive outlook for the next six months.
This is the third straight month of gains. The survey shows that consumers not only have more confidence in our economy, but in their own current situation.
What this all means is that consumers are expected to spend more in the future, especially when it comes to big ticket items like cars and homes.
The survey is apparently dead on because new housing continues to increase. Recently released numbers indicate the home price index was up 12 percent for the top 20 real estate markets across the nation, which includes Phoenix.
It was the biggest annual jump in prices in seven years.