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 JAN 15, 2007
2007 begins With Housing Consumer Confidence
The New Year is being greeted with the highest level of consumer confidence in months. This could mean good news for the housing market.


A report known as the RBC cash Index, which was written by the international polling firm Ipos, rates consumer confidence levels at 95.3 for the month of January. The December rating came in at 86.9. The current ratings are at their highest point since February, 2006.

What is known as the "expectations" index shot up to a rating of 83.8 for January. The rating in December was 55. This rating for January is the highest in more than a two-year period.

Job market ratings continue to be good as well. The rating for January came in at 126.3, which was practically unchanged from December which came in at 126.5. That rating is the highest on record.

Mark Vitner is an economist for Wachovia Group. He states that many of the fears that consumers have had regarding the economy seem to be fading. Uncertain feelings about inflation, gas prices, interest rates and the housing market appear to be dissipating.

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